|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
Shares in Indian sugar companies gain after the government decided to raise import duty on the sweetener to 15 percent from 10 to discourage overseas buying as ample supplies have sparked a drop in local prices.
The higher import duty and the depreciating rupee should curb imports from overseas, and thus improve profitability at mills that would benefit from higher local sugar prices, dealers say.