Sugar shares spurt after import duty hike

Fourteen sugar shares rose by 0.75% to 6.38% at 12:50 IST on BSE after the government raised import duty on sugar to 25% from 15%.

Dwarikesh Sugar Industries (up 6.38%), Oudh Sugar Mills (up 6.18%), Simbhaoli Sugars (up 4.84%), Rana Sugars (up 4.79%), Sakthi Sugars (up 4.77%), Shree Renuka Sugars (up 4.44%), Bajaj Hindusthan (up 3.99%), KCP Sugar & Industries Corporation (up 3.51%), Balrampur Chini Mills (up 3.09%), Triveni Engineering & Industries (up 3.05%), Dhampur Sugar Mills (up 2.93%), EID Parry (India) (up 1.95%), DCM Shriram Industries (up 1.74%) and Upper Ganges Sugar (up 0.75%), edged higher.

The S&P BSE Sensex was up 60.64 points, or 0.23% at 26,420.75.

Import duty hike will lead to lower losses for producers.

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