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Sugar stocks surge up to 5% after govt approves Rs 3,500 cr export subsidy

Balrampur Chini, Triveni Engineering, Uttam Sugar Mills, Dhampur Sugar Mills, Shree Renuka Sugars, EID Parry and Dwarikesh Sugar Industries were up in the range of 3% to 5%

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Even when exports of 6 million tonnes are factored in for sugar year 2020-21, the glut situation will continue as closing stock continues to be more than the normal requirement estimate for the year.

SI Reporter Mumbai
Shares of sugar manufacturers gained up to 5 per cent on the BSE in the early morning trade on Thursday after the Union Cabinet on Wednesday approved Rs 3,500-crore sugar export subsidy.

Among individual stocks, Balrampur Chini Mills (BCML), Triveni Engineering Industries, Uttam Sugar Mills, Dhampur Sugar Mills, Shree Renuka Sugars, EID Parry (India) and Dwarikesh Sugar Industries were up in the range of 3 per cent to 5 per cent. In comparison, the S&P BSE Sensex was up 0.09 per cent at 46,706 points at 09:24 am.

The central government on Wednesday approved a subsidy of Rs

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First Published: Dec 17 2020 | 9:36 AM IST

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