India: Sugar shares gain on hopes government may ease restrictions

Shares in sugar companies gain on hopes the government will remove a requirement that they sell a portion of their sugar output to the government at reduced prices, while also easing some of the restrictions on the sector.

The cabinet is expected to meet later in the day to discuss a food security bill, leading to market speculation that measures on the sugar sector would also be discussed.

Bajaj Hindusthan Ltd (BJHN.NS) gains 1.8 percent, Shree Renuka Sugars Ltd (SRES.NS) is up 1.7 percent, while Balrampur Chini Mills Ltd (BACH.NS) rises 0.2 percent.

The stocks gain despite a 0.8percent fall in the Nifty.

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