Shares of Indian sugar cos surge on report govt to pay cane farmers to help mills

Triveni Engineering and Industries

10/04/2018 05:38

** Shares of Indian sugar companies jump in early trade
after Reuters reported on Monday govt is likely to provide
financial support to cane farmers for produce sold to sugar
mills, citing sources
    ** The govt plans to pay 55 rupees a tonne to cane farmers,
while mills would pay the rest of the state-set price - report
 urn:newsml:reuters.com:*:nL3N1RM3D5   
    ** The industry is reeling under a glut and struggling to
export because of low global prices 
    ** Balrampur Chini Mills Ltd  BACH.NS  surges as much as 8.6
pct, while Dalmia Bharat Sugar and Industries Ltd  DLMI.NS 
gains 7.1 pct
    ** Both Triveni Engineering and Industries Ltd  TREI.NS  and
Dalmia Bharat Sugar and Industries Ltd  DLMI.NS  jump more than
7 pct
    ** Dhampur Sugar Mills Ltd  DAMS.NS  gains over 6 pct, while
Bajaj Hindusthan Sugar Ltd  BJHN.NS  climbs 9 pct

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