Thiru Arooran Sugars up 4%

The stock of Thiru Arooran jumped 4 per cent to Rs 165.75, after the government extended by 15 months a deadline for an obligation to export refined sugar against prior raw sugar imports until the March 2011. The move is meant to increase local supplies and rein in prices of the sweetener which rose more than 50 per cent in November 2009 from a year ago due to tight supplies.

Indian firms had to export an equivalent quantity of white or processed sugar against their import of raw sugar until 31 December 2009. The government has also decided to extend the ban on futures trading in sugar for another nine months till September 2010.