Shares of India's sugar firms rise after report govt scraps export tax

Triveni Engineering and Industries

20/03/2018 07:56

** Shares of sugar companies rise 3 pct-5 pct in afternoon
trade
    ** India, the world's biggest consumer of sugar, scrapped
the 20 pct sugar export tax to help boost overseas sales in a
year of production surplus, according to a government source
 urn:newsml:reuters.com:*:nD8N1PZ01S
    ** Balrampur Chini Mills Ltd  BACH.NS  rises as much as 7.4
pct, while Dalmia Bharat Sugar and Industries Ltd  DLMI.NS 
jumps up to 4.8 pct
    ** Dhampur Sugar Mills Ltd  DAMS.NS  and Triveni Engineering
and Industries Ltd  TREI.NS  were up more than 3 pct
    ** Bajaj Hindusthan Sugar Ltd  BJHN.NS  and Shree Renuka
Sugars Ltd  SRES.NS  were little unchanged
    ** Last week, Reuters reported that India would axe the
sugar export tax and make it compulsory for mills to export 2
million tonnes-3 million tonnes to cut bulging stocks at home.
 urn:newsml:reuters.com:*:nL3N1QX431
    

 ((Reuters Messaging: Reuters Messaging -
vishal.sridhar.thomsonreuters.com@reuters.net))