| Date: |
29-06-2011 |
| Subject: |
Sugar Shares Taste Sweet As Govt Allows Additional Sugar Exports |
|
Seven sugar shares rose 1.1% to 5.22% at 9:44 IST on BSE on reports the government on Tuesday, 28 June 2011, issued a formal order for exports of an additional 5 lakh tonnes of sugar.
Shree Renuka Sugars (up 5.22%), Balrampur Chini Mills (up 4.60%), Simbhaoli Sugars (up 3.9%), Bajaj Hindusthan (up 3.3%), Triveni Engineering & Industries (up 3.2%), E.I.D. Parry (India) (up 3.23%) and DCM Shriram Industries (up 1.10%), edged higher.
The BSE Sensex was up 128.37 points or 0.69% at 18,620.82.
Last week, the Empowered Group of Ministers (EGoM) on food decided to permit export of additional 5 lakh tonnes of sugar as the country's production is estimated to outstrip demand after a gap of two years. According to reports, the food ministry will distribute the quota among mills on the basis of their three years' average output, or two years' average production in case a mill has not been in operation in one of three years.
Earlier, the government had permitted exports of 5 lakh tonnes of sugar in April 2011.
Source : indiainfoline.com
|