India's Magadh Sugar and Energy drops after quarterly results

Magadh Sugar & Energy

14/05/2026 10:29

** Shares of Indian sugar company Magadh Sugar and Energy MGAD.NS fall as much as 5.7% to 472.3 rupees, largest intraday pct drop since February 2025

** MGAD last down 4.9%

** Co reported 32% drop in fourth-quarter profit y/y; rev down 17.8% y/y

** MGAD had been trading lower prior to results after Indian government on Wednesday banned sugar exports till 30 September 2026

** Ban comes as federal government tries to contain domestic prices and manage inflation

** MGAD down 5.2% YTD

 (Reporting by Abhirami G in Bengaluru)

 ((abhirami.g@thomsonreuters.com))