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Sugar stocks gain on hike in import duty

Ugar Sugar, Sakthi Sugars, Thiru Arooran, Rajshree Sugars, KCP Sugar and Simbhaoli Sugar up 4%-7%

SI Reporter  |  Mumbai 

sugar

Shares of companies were trading higher by upto 7% on BSE after the government increased on to 50%, up from 40%, to restrict cheap inward shipments and maintain domestic prices.

Ugar Works, Sakthi Sugars, Thiru Arooran Sugars, KCP & Industries, Rajshree Sugars, Simbhaoli and were up between 4% and 7% on the BSE. Dhampur Sugars, Mawana Sugars, Bannari Amman Sugars and Bajaj Hindustan were up 2% to 3%.

In past one-week, most the stocks have outperformed the market by gaining in the range of 5% to 22%, as compared to 1.8% rise in the S&P BSE Sensex.

A notification issued by the revenue department said that on (raw sugar, refined or white sugar, raw if imported by bulk consumers) has been increased from the present 40% to 50% "with immediate effect and without an end date". CLICK HERE FOR FULL REPORT

COMPANY LATEST 1-WK GAIN(%)
    BEFORE  
SH.RENUKA SUGAR 15.55 12.75 22.0
RIGA SUGAR 19.20 16.10 19.3
INDIAN SUCROSE 38.45 32.90 16.9
GAYATRI SUGARS 9.25 8.00 15.6
KCP SUGAR &INDS. 33.85 29.75 13.8
RANA SUGARS 9.55 8.43 13.3
UGAR SUGAR WORKS 28.85 25.50 13.1
EMPEE SUGARS 5.72 5.10 12.2
SAKTHI SUGARS 31.70 28.30 12.0
UTTAM SUG.MILLS 141.85 126.70 12.0
RAJSHREE SUGARS 57.30 51.25 11.8
SIMBHAOLI SUGAR 32.35 29.40 10.0
DHAMPUR SUGAR 204.00 186.40 9.4
BAJAJ HINDUSTHAN 16.17 14.86 8.8
THIRU AROOR. SU. 61.00 56.45 8.1
DALMIA BHARAT 153.20 142.90 7.2
MAWANA SUGARS 83.10 77.55 7.2
TRIVEN.ENGG.IND. 79.60 74.80 6.4
DHARANI SUGARS 28.45 27.00 5.4
SIR SHADI LAL 109.95 104.60 5.1

First Published: Tue, July 11 2017. 09:41 IST
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