Dhampur Sugar to set up overseas subsidiary

Dhampur Sugar Mills today said it will set up a wholly-owned subsidiary overseas for trading in commodities, including sugar.      

The board of directors at its meeting held on April 30 has given its in-principle approval, for "setting up a wholly-owned subsidiary overseas for trading in commodities, (especially) sugar", the company said in a filing to the Bombay Stock Exchange.      

Shares of Dhampur Sugar Mills were trading at Rs 52, up 4.94 per cent on the BSE.