Shares of rice exporters rise over 7%

Shares of rice exporters jumped up to over 7% on the BSE after the government allowed limited export of non-basmati rice.

Shares of KRBL jumped 7.18% to close at Rs 29.10 on BSE. Others, like LT Foods and Kohinoor Foods, too, saw buying interest at their respective counters irrespective of the bearish trend in the market.

Kohinoor Foods surged 6.72% to settle at Rs 45.25 on the BSE, while LT Foods ended 4.62% higher at Rs 48.65.

The government yesterday put wheat and non-basmati rice exports under the Open General Licence (OGL). It lifted ban on wheat exports after four years.

"We will stop export of wheat and non-basmati rice once shipments reaches two million tonnes each," Food Minister K V Thomas had said.