Sugar stocks rises as govt allows additional exports

Sugar stocks have rallied on the bourses after the government decided to allow the export of another 1 million tonne of sugar export under the Open general license (OGL) in view of surplus production.

The decision was taken in the meeting of the panel of empowered group of ministers, headed by Finance Minister Pranab Mukherjee. With this decision, the government so far has allowed export of 3 milltion tonne sugar in this season in three tranches of 1 million tonne each.

Among the individual stocks, Shree Renuka Sugars, Bajaj Hindustan, Balrampur Chini Mills Sakthi Sugars and Dhampur Sugar Mills are trading 2-6% higher on the Bombay Stock Exchange.