April 10, 2018 / 4:40 AM / a year ago

BUZZ-Shares of Indian sugar cos surge on report govt to pay cane farmers to help mills

** Shares of Indian sugar companies jump in early trade after Reuters reported on Monday govt is likely to provide financial support to cane farmers for produce sold to sugar mills, citing sources

** The govt plans to pay 55 rupees a tonne to cane farmers, while mills would pay the rest of the state-set price - report

** The industry is reeling under a glut and struggling to export because of low global prices

** Balrampur Chini Mills Ltd surges as much as 8.6 pct, while Dalmia Bharat Sugar and Industries Ltd gains 7.1 pct

** Both Triveni Engineering and Industries Ltd and Dalmia Bharat Sugar and Industries Ltd jump more than 7 pct

** Dhampur Sugar Mills Ltd gains over 6 pct, while Bajaj Hindusthan Sugar Ltd climbs 9 pct

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