Jute stocks in demand; Ludlow Jute, Cheviot rally up to 17%; here's why

Shares of manufacturing and sale of jute goods firms rallied up to 17 per cent on the BSE in Monday’s intra-day trade after the government on Friday approved mandatory packaging of 100 per cent food grains and 20 per cent sugar in diversified jute bags for the Jute year 2023-24. A Jute year is from July 1 to June 30.

Shares of Ludlow Jute & Specialities surged 17 per cent to Rs 99.90 and Cheviot Company rallied 16 per cent to Rs 1,480 on the BSE. These stocks were quoting at their respective 52-week highs. Shares of Gloster soared 9