Sugar firms jump after media reports of likely government loan relief
10 Jun 2015 6:51 PM IST
The government has still not confirmed the decision for loans of 60 billion rupees
The state government is devising a strategy to revive Nizam Sugar Factory as it would ensure welfare of farmers and workers. Picture for representational purpose
New Delhi: Shares of sugar firms rose after media reports said the government will provide interest-free loans to sugar mills struggling to pay cane dues to farmers because of weak demand.
Stocks of companies such as Bajaj Hindusthan Sugar Ltd, Sree Renuka Sugars Ltd, Dhampur Sugar Mills Ltd, Andhra Sugars Ltd, Mawana Sugar and Balrampur Chini Mills Ltd rose in the range of 6 to 13 percent.
The government is expected to confirm the decision for loans of 60 billion rupees ($939.3 million) at a press briefing shortly.
( Source : reuters )
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