Sugar firms jump after media reports of likely government loan relief

The government has still not confirmed the decision for loans of 60 billion rupees

Update: 2015-06-10 13:21 GMT
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.

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