Sugar stocks surge on decontrol buzz

Shares of sugar companies are trading higher in otherwise subdued equity market on reports that the government will consider the partial decontrol of the sector after the winter session of the Parliament gets over.

Balrampur Chini Mills, Shree Renuka Sugars, Bajaj Hindustan and Dhampur Sugar Mills are up 1-4% at opening deals on the Bombay Stock Exchange.

The minister also said the government would consider further export of sugar, which would be favourable for the industry. Last month, an export of one million tonnes was allowed under Open General Licence (OGL), a PTI report suggests quoting Food Minister K V Thomas.