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Sugar stocks sweeten on hopes of price decontrol decision

The cabinet committee on economic affairs is likely to discuss freeing of sugar prices and the proposed food security legislation, which is expected to be a key campaign plank for the ruling Congress-led United Progressive Alliance coalition in the state polls and the 2014 general elections. Photo: Priyanka Parashar/Mint (Priyanka Parashar/Mint)Premium
The cabinet committee on economic affairs is likely to discuss freeing of sugar prices and the proposed food security legislation, which is expected to be a key campaign plank for the ruling Congress-led United Progressive Alliance coalition in the state polls and the 2014 general elections. Photo: Priyanka Parashar/Mint
(Priyanka Parashar/Mint)

The especially scheduled cabinet committee meeting on Monday may discuss completely freeing sugar prices

Mumbai: Shares of sugar companies gained on Monday on expectation that the government may ease control on sugar prices.

The cabinet committee on economic affairs is likely to discuss freeing of sugar prices and the proposed food security legislation, which is expected to be a key campaign plank for the ruling Congress-led United Progressive Alliance coalition in the state polls and the 2014 general elections.

The especially scheduled meeting on Monday may discuss completely freeing sugar prices that has been suggested by a panel led by C. Rangarajan, chairman of the Prime Minister’s economic advisory council.

At 1.40pm, shares of Shree Renuka Sugars Ltd gained 0.95% on BSE. Dhampur Sugar Mills Ltd rose 3.18%, while shares of Bajaj Hindusthan Ltd advanced 0.92%. Balrampur Chini Mills Ltd’s shares fell 0.11%. The exchange’s benchmark Sensex fell 0.64% to 19,302.79 points.

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