 "Sugar shares rally; Upper Ganges, Ponni Sugars up 20%")
Shares of sugar companies are back in focus with most frontline stocks trading higher by up 20% on the bourses.
Upper Ganges Sugar & Industries (up 20% at Rs 463), Ponni Sugars (Erode) (20% at Rs 294), KCP Sugar (14% at Rs 44), Sakthi Sugars (12% at Rs 51) and Kesar Enterprises (12% at Rs 73) were up more than 10% each on the BSE.
Dhampur Sugars & Chemicals, Mawana Sugars, Dwarikesh Sugar, Dharani Sugars, Parrys Sugar, Dalmia Bharat Sugars and Bannari Amman Sugars up between 5%-10% on the BSE.
According to Business Standard reports, the Union Government has clarified on Wednesday that export of imported raw sugar after refining will not attract any export duty. This paves the way for movement of various shipments that were stuck at ports.
The government last month slapped an export duty of 20% on locally produced sugar to ensure adequate domestic availability and curb price increase.LINK
Upper Ganges Sugar & Industries (up 20% at Rs 463), Ponni Sugars (Erode) (20% at Rs 294), KCP Sugar (14% at Rs 44), Sakthi Sugars (12% at Rs 51) and Kesar Enterprises (12% at Rs 73) were up more than 10% each on the BSE.
Dhampur Sugars & Chemicals, Mawana Sugars, Dwarikesh Sugar, Dharani Sugars, Parrys Sugar, Dalmia Bharat Sugars and Bannari Amman Sugars up between 5%-10% on the BSE.
According to Business Standard reports, the Union Government has clarified on Wednesday that export of imported raw sugar after refining will not attract any export duty. This paves the way for movement of various shipments that were stuck at ports.
The government last month slapped an export duty of 20% on locally produced sugar to ensure adequate domestic availability and curb price increase.LINK