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Sugar scrips up after govt steps

Mumbai, Jun 23 (PTI) : Shares of sugar companies showed gains in the stock market on Monday after the government announced additional interest-free loan of Rs 4,400 crore for sugar mills and also increased the import duty.

Shree Renuka Sugar saw its share price soar by nearly nine per cent to Rs 28.90, while Balrampur Chini gained over 8 per cent to Rs 86.30.

Bajaj Hindusthan rose 8.6 per cent to Rs 29.15, EID Parry by eight per cent to Rs 222.2, Dhampur Sugar by over eight per cent to Rs 65.80, Dwarikesh Sugar by five per cent to Rs 41.55, Rajshree Sugar by five per cent to Rs 32, Sakthi Sugar by five per cent to Rs 24.85 and Simbhaoli Sugar by five per cent to Rs 22.2.

Shares of Dalmia Bharat Sugar, Oudh Sugar Mills and Uttam Sugar also rose by nearly five per cent each.

The loan will be provided to cash-starved sugar mills to make payments to cane farmers, while the import duty on sugar will be increased to 40 per cent from the current 15 per cent, Food & Civil Supplies Minister Ram Vilas Paswan said.

Besides, government will extend sugar export subsidy of Rs 3,300 per tonne till September this year.

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