Indian sugar stocks rise on export deals report

E I D-Parry (India)

01/09/2022 07:20

** Shares of Indian sugar firms rise 1.4%-3.8% in a weak
broader market  .NSEI , after a report says traders signed deals
for exporting raw sugar in the coming season
    ** Indian traders signed deals to export 300,000 tonnes of
raw sugar in the coming season as advantageous market conditions
counter the risk of agreeing contracts before India announces
its 2022/23 export policy, Reuters reported on Tuesday, citing
trade sources  urn:newsml:reuters.com:*:nL1N3060EU
    ** Indian markets were closed on Wednesday for a holiday
    ** Govt has capped exports in the current 2021/22 season to
prevent a surge in domestic prices
    ** Balrampur Chini Mills Ltd  BACH.NS , Shree Renuka Sugars
Ltd  SRES.NS , Dwarikesh Sugars Ltd  DWAR.NS  and Uttam Sugar
Mills  UTSM.NS  jump as much as 3%-3.8%
    ** Dhampur Sugar Mills Ltd  DAMS.NS , Bajaj Hindusthan Sugar
Ltd  BJHN.NS , Dalmia Bharat Sugar and Industries  DLMI.NS ,
Triveni Engineering and Industries Ltd  TREI.NS  and E I D-Parry
(India) Ltd  EIDP.NS  rise as much as 1.4% to 2.5%
    ** Exports from India, the world's biggest producer of
sugar, could weigh on global prices  SBc1   LSUc1  but augment
supplies across Asia

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))