Sugar shares in focus; Dwarikesh Sugar, Balrampur Chini up over 5%

Shares of sugar companies were in focus with most of the frontline stocks trading higher by upto 11% on the BSE on reports that the government is likely to provide financial support to cane farmers for produce sold to sugar mills.

Dwarikesh Sugar Industries, Thiru Arooran Sugars, Bajaj Hindustan, Balrampur Chini Mills, Uttam Sugar Mills, Mawana Sugars and Trivenni Engineering & Industries were up in the range of 6% to 11% on the BSE. The S&P BSE Sensex was trading 0.34% higher at 33,915 at 09:47 am.

Prime Minister Narendra Modi's administration is likely to approve a proposal to pay around 55 rupees ($0.84) for every tonne of cane sold to the mills, two government sources said, seeking anonymity in line with government policy, the Reuters report suggested.

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