Indian basmati rice makers climb as govt eases export restrictions

KRBL

16/09/2024 05:06

** Shares of Indian rice companies surge on report of
government removing floor price for basmati rice exports 
    ** This will help boost overseas sales of the premium grade
and aid farmers struggling with debt and higher costs 
    ** India is the world's largest rice exporter 
    ** 'India Gate' basmati rice brand owner KRBL  KRBL.NS 
gains 4.7%, 'Daawat' brand owner LT Foods  LTOL.NS  jumps 5.7% 
    ** GRM Overseas  GRMO.NS  and Kohinoor Foods  KOFO.NS  up
2.7% and 9.8%, respectively 
    ** KOFO set to snap three straight sessions of losses, down
~8% YTD, while KRBL down ~15% 
    ** YTD GRMO, LTOL up 39% and ~112%, respectively 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))