Money on the markets

Sugar companies end higher

Kshitij Anand

Mar 22, 2011 12:24 UTC

A worker carries a sack of sugar at a food warehouse in Mumbai July 11, 2008. REUTERS/Arko Datta/Files

Shares of sugar producers traded higher on Tuesday after industry sources said the government is likely to allow 200,000 tonnes of sugar exports — less than half a million tonnes permitted earlier.

The marked difference between domestic and international sugar prices and a likely positive impact on margins are lifting sentiment.

Shree Renuka Sugars ended 3 percent higher with Bajaj Hindusthan 2.5 percent, Simbhaoli Sugars 2.4 percent and Balrampur Chini Mills up 1.7 percent.