November 20, 2013 / 11:30 IST
Moneycontrol Bureau
Sugar stocks are rallying ahead of an
informal meeting of ministers today at 3 pm on the sugar crisis. Shares of
Bajaj Hindusthan were up 10 percent,
Balrampur Chini gained 5 percent and
Dhampur Sugar added 12 percent intraday on Wednesday.
Finance Minister P Chidambaram, Agriculture Minister Sharad Pawar, Commerce Minister Anand Sharma and Aviation Minister Ajit Singh are likely to be present in the meeting.
Agenda of the meeting is to discuss soft loan to sugar industries and increase in ethanol blending to 10 percent from 5 percent.
About 65 sugar mills, including industry leaders like Bajaj Hindusthan, Balrampur Chini and Dhampur Sugar, have suspended operations saying it was unviable for them to buy cane from the farmers at the prices set by the state government.
Shares of other stocks like
Oudh Sugar,
Shree Renuka,
Mawana Sugar and
Dwarikesh Sugar are up 5-12 percent on the BSE.
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