Sugar stocks jump after cabinet approves funds to clear dues

NEW DELHI: Most sugar stocks jumped higher in Friday's session, a day after India's cabinet approved funds to pay interest on loans to the sugar industry.

India's cabinet on Thursday approved a plan to spend up to Rs 1,054 crore to pay interest on loans to the sugar industry for a year, in a bid to help sugar mills clear their dues to farmers.

Shares of Dharani Sugars & Chemicals (up 6.75 per cent), Uttam Sugar Mills (up 5.90 per cent) and DCM Shriram Industries (up 5.77 per cent) were the top gainers in the sugar space.


Shares of Kesar Enterprise (up 5.63 per cent), Triveni Engineering & Industries (up 5.54 per cent), Dwarikesh Sugar Industries (up 5.53 per cent), Thiru Arooran Sugars (up 4.97 per cent), Parvati Sweetners (up 4.74 per cent), Indian Sucrose (up 4.69 per cent) and Rana Sugars (up 4.41 per cent), too, were trading with healthy gains.

The NSE Nifty50 index was trading 51 points up at 10,844 at around 11:18 am. The 30-share BSE Sensex was up 166 points at 36,033 around the same time.

Vedanta, IndusInd Bank, Coal India and YES Bank were among the top gainers in the Sensex index.