The government has hiked the import duty on sugar to 50% to control dumping of cheaper sugar from international suppliers. Also, the demand for sugar is expected to rise as the festive season is around the corner.
Triveni Engineering & Industries Ltd. soared over 10% and was trading at Rs 78.20 per share as at 1123 hours on the BSE. While other sugar stocks including Shree Renuka Sugars was trading at Rs 16.10, up by Rs 1.09 or 7.26%, Rana Sugars was trading at Rs 9.46, up by Rs 0.55 or 6.17%, Bajaj Hindusthan Sugar was at Rs 15.60, up by Rs 0.57 or 3.79%, Balrampur Chini Mills was at Rs 158.80, up by Rs 4.65 or 3.02%, and Dhampur Sugar Mills was at Rs 223.50, up by Rs 13.65 or 6.50%.
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