Sugar refiners’ shares rise on expected govt measures

Reuters Market Eye – Shares in sugar refiners rise 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 up nearly 10 percent, its daily trading limit, Dhampur Sugar Mills Ltd higher 10.2 percent, Shree Renuka Sugars Ltd up 7.7 percent and Balrampur Chini Mills Ltd up 6.1 percent

(Reporting by Rajendra Jadhav)

 

A vendor arranges a price tag over a sack filled with sugar at a wholesale vegetable market in Ahmedabad September 11, 2013. REUTERS/Amit Dave/Files

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