Sugar stocks up 16% on partial decontrol

MUMBAI: Shares of sugar manufacturers, led by Bajaj Hindusthan surged as much as 16 per cent on the BSE after the government partially decontrolled the sugar sector by giving freedom to millers to sell in the open market.
The decision to partially decontrol the sugar sector, the only industry left under the government control, was taken by the Cabinet Committee on Economic Affairs (CCEA) yesterday.
Reacting to the development, shares of the sugar producing companies surged as much as 16 per cent in morning trade on the BSE.
Bajaj Hindusthan touched an intra-day high of Rs 24.75, up 16.19 per cent from its previous closing price. Shree Renuka Sugars surged to Rs 28.35, up 13.4 per cent from its last close. Balrampur Chini Mills touched Rs 54, up 12.85 per cent from its previous closing price.              

                                                                                                      Amit gupta
                                                                                                       PGDM 2nd