Money on the markets

A maturing market amid the mayhem

Sugar companies end higher

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

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.

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