Seven sugar stocks rose 0.6% to 3.55% at 14:45 IST on BSE on reports that the government plans to substantially hike the import duty on sugar.
Rana Sugars (up 2.67%), Bajaj Hindusthan (up 1.58%), Triveni Engineering Industries (up 0.77%), Sakthi Sugars (up 1.37%), Balrampur Chini Mills (up 0.6%), Shree Renuka Sugars (up 0.38%) and Simbhaoli Sugars (3.55%) edged higher. Dhampur Sugar Mills (down 2.11%) and Dwarikesh Sugar Industries (down 1.95%) edged lower.
Meanwhile, the S&P BSE Sensex was down 203.82 points or 0.71% at 28,595.87.
Food Minister Ramvilas Paswan reportedly said yesterday, 15 April 2015 that his ministry would soon recommend raising the import duty on sugar to 40% from the existing 15% with a view to reduce the surplus.
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