The government contemplates to inflict a stock limit on industrial customers of sugar in an effort to boost supply into the retail market. Sugar stocks on BSE are under stress due to this step.

Shree Renuka Sugars trades high on the Sensex after the company declared that it has bagged consent from FMC to buy 5% stake in NCDEX owned by Goldman Sachs and ICE for a sum consideration of Rs.36.50crore.

The Forward Markets Commission has sanctioned Shree Renuka Sugars’ offer to purchase 5% stake in NCDEX.

Shree Renuka Sugars presently trades up on the Sensex after the company got consent from the present share owners of NCDEX to obtain a 5% share in the commodity bourse.

Shree Renuka Sugars has bagged approval from the present share owners of NCDEX to obtain a 5% stake in the commodity bourse.

Balrampur Chini Industries, Bajaj Hindustan Sugar, DCM Shriram Industries, Simbhaoli Sugars, Triveni engineering Industries and Shree Renuka Sugars were up.

Sugar companies’ shares soared today due to hearsay that domestic producers are likely to be easy on imports of raw sugar as rates have ascended to the peak in nearly 3 years.

Balrampur Chini Mills is high by 6.24%, DCM Shriram Industries is high by 6.38%, Shree Renuka Sugars is high by 4.33%, Simbhaoli Sugar Mills is high by 4.80%, EID Parry is high by 7.21% and Triveni Engineering & Industries is high by 18.95% with likelihood of high sugar rates.