Sugar stocks gain on subsidy hopes

Reports suggest that the government could consider subsidy for raw sugar exports at a cabinet meet today

Shares of select sugar companies gained in an otherwise weak market on reports that the government could consider subsidy for raw sugar exports at a cabinet meeting later today.

The government could give export incentives for 1.4 million tonnes of raw sugar, Food Minister Ram Vilas Paswan had said last week.

Simbhaoli Sugars was up 7%, Dhampur Sugar Mills rose 2.7%, Triveni Engineering was up 2% and Bannari Amman Sugars gained 1.4% on the Bombay Stock Exchange.