Sugar Stocks Gain On Talks Of Import Duty Hike

Among other stocks - Sugar stocks were in focus on the back of reports indicating that the government may soon consider hike in import duty on sugar.

According to media reports, Food Minister Ram Vilas Paswan on Wednesday was quoted as saying that his department would soon recommend increasing the import duty on sugar to 40 percent from the current 15 percent to bring down the surplus.

Select sugar stocks pared gains and ended in red at close. However, Bajaj Hindustan, Balrampur Chini, Shree Renuka Sugars, Triveni Engineering, KCP Sugar and Andhra Sugar were up 0.5-1 percent each.

Source:indiainfoline.com