Sugar stocks slump up to 7% after Govt bans exports till September 30

Shares of sugar companies plunged up to 7 per cent on Thursday after the government banned the export of sugar till September 30 this year with immediate effect to boost domestic availability and contain prices.

The stock of Dhampur Sugar Mills tanked 6.95 per cent, Dwarikesh Sugar Industries fell 6.65 per cent, Uttam Sugar Mills dropped 5.60 per cent, Bajaj Hindusthan Sugar declined 4.95 per cent, Mawana Sugars depreciated 4.83 per cent and Dalmia Bharat Sugar and Industries went lower by 3.98 per cent on the BSE.

Shares of Triveni Engineering & Industries fell 3.85 per cent, Rajshree Sugars & Chemicals declined 3.42 per cent, Sakthi Sugars slipped 2.92 per cent, Balrampur Chini Mills dropped 2.52 per cent, and Shree Renuka Sugars went lower by 2.13 per cent.

Among others, Avadh Sugar & Energy stock fell 1.76 per cent, and EID Parry India slipped by 1.64 per cent.