Sugar stocks jump by 10% following govt's decision to provide soft loans

Stocks of sugar firms jumped by up to 10 per cent on Friday, following the government’s decision to provide soft loans to mills to help them clear cane arrears. While Dharani Sugars jumped 9.4 per cent to Rs 12.80 on Friday, Sakthi Sugars surged by 5.85 per cent to Rs 10.85.

Shares of Triveni Engineering and Dwarikesh Sugars jumped 5.18 per cent and 4.49 per cent, to close at Rs 57.90 and Rs 30.25, respectively.

With the highest ever cane arrears, estimated to be over Rs 20,000 crore, the sugar industry is passing through a difficult phase. Huge stockpiles, bumper