 "Sugar shares fall after Cabinet gives nod for bailout package")
Shares of sugar companies have fallen by upto 12% from their respective intra-day highs on the BSE after the Cabinet on Wednesday approved Rs 85 billion bailout package for the sugar industry.
At 02:27 pm: Triveni Engineering & Industries, Dwarikesh Sugar Industries, Balrampur Chini Mills, Kesar Enterprises, Magadh Sugar & Energy and Simbhaoli Sugars were trading down in the range of 5% to 8% on the BSE. On comparison, the S&P BSE Sensex was up 0.50% at 35,079 points.
The package includes Rs 45 billion soft loans for building ethanol production capacity and creating a 3 million tonne stockpile to soak up excess supply, the PTI report suggested.CLICK HERE TO READ FULL REPORT
A bailout package has been worked out as sugar mills' financial health has worsened due to sharp fall in prices following a record sugar production of over 31.6 million tonnes so far in the 2017-18 marketing year (October-September).
At 02:27 pm: Triveni Engineering & Industries, Dwarikesh Sugar Industries, Balrampur Chini Mills, Kesar Enterprises, Magadh Sugar & Energy and Simbhaoli Sugars were trading down in the range of 5% to 8% on the BSE. On comparison, the S&P BSE Sensex was up 0.50% at 35,079 points.
The package includes Rs 45 billion soft loans for building ethanol production capacity and creating a 3 million tonne stockpile to soak up excess supply, the PTI report suggested.CLICK HERE TO READ FULL REPORT
A bailout package has been worked out as sugar mills' financial health has worsened due to sharp fall in prices following a record sugar production of over 31.6 million tonnes so far in the 2017-18 marketing year (October-September).
| COMPANY | DAY'S HIGH(RS) | DAY'S LOW(RS) | FALL(%) |
| TRIVEN.ENGG.IND. | 43.00 | 37.70 | -11.63 |
| BALRAMPUR CHINI | 75.40 | 66.40 | -10.08 |
| DWARIKESH SUGAR | 25.50 | 22.40 | -9.80 |
| DHAMPUR SUGAR | 107.45 | 98.40 | -7.63 |
| EMPEE SUGARS | 1.85 | 1.72 | -7.03 |
| MAGADH SUGAR | 93.80 | 86.60 | -6.24 |
| SIMBHAOLI SUGAR | 10.60 | 10.00 | -5.66 |
| UGAR SUGAR WORKS | 16.45 | 15.40 | -5.47 |
| AVADH SUGAR | 375.00 | 339.10 | -5.35 |
| BAJAJ HINDUSTHAN | 7.45 | 7.02 | -5.23 |
| MAWANA SUGARS | 39.55 | 36.80 | -4.80 |
| KHAITAN (INDIA) | 44.75 | 41.10 | -4.80 |
| SAKTHI SUGARS | 16.80 | 14.25 | -4.76 |
| DALMIA BHARAT | 64.80 | 61.00 | -4.63 |
| UTTAM SUG.MILLS | 83.25 | 79.00 | -4.38 |
| RANA SUGARS | 4.33 | 4.15 | -4.16 |
| DHARANI SUGARS | 15.25 | 14.60 | -3.61 |
| KCP SUGAR &INDS. | 21.20 | 20.35 | -3.54 |
| EID PARRY | 234.55 | 217.50 | -3.41 |
| DCM SHRIRAM INDS | 167.00 | 160.00 | -2.90 |
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