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Sugar Refiners' Shares Rise on Expected Government Measures

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Shares in sugar refiners rose sharply on expectations that the new government would push ethanol blending in petrol and increase the import duty on the sweetener to support local prices, several traders said.

Food, agriculture, road and petroleum ministers are expected to meet soon to discuss ethanol blending in petrol and imports of E85 engines that run on higher amount of ethanol blend, they add.

Shares of Bajaj Hindusthan Ltd were up nearly 10 per cent, its daily trading limit, Dhampur Sugar Mills Ltd was higher 10.2 percent, Shree Renuka Sugars Ltd was up 7.7 percent and Balrampur Chini Mills Ltd rose 6.1 percent at 12:39 p.m.

Copyright: Thomson Reuters 2014

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