Sugar stocks fell sharply on Wednesday, a day after the government imposed restrictions on sugar exports from June 1 to increase availability of the commodity in domestic market and curb price rise. Shares of Dalmia Bharat Sugar and Industries plummeted 13.40 per cent, Dwarikesh Sugar tumbled 9.38 per cent, Uttam Sugar Mills plunged 9.30 per cent and Balrampur Chini Mills tanked 8.56 per cent on the BSE. Also, Avadh Sugar & Energy dived 8.04 per cent, Shree Renuka Sugars declined 6.69 per cent and Mawana Sugars dipped 4.97 per cent. "Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards," the Directorate General of Foreign Trade (DGFT) said in a notification on Tuesday. In a statement, the government said with a view to maintain domestic availability and price stability of sugar in the country during sugar season 2021-22 (October-September), it has been decided to regulate the sugar exports with effect from June 1.
Dalmia Bharat Sugar and Industries Ltd on Friday reported a marginal decline in consolidated net profit at Rs 124.34 crore for the quarter ended June.
The government reduced the export subsidy from Rs 5.85 / kg to Rs 4.0 / kg on any sugar contracted for export on or after May 20, 2021
The company had posted a net profit of Rs 54.39 crore in the same quarter year ago, according to a regulatory filing.
In recent years, cement companies like Birla Corporation have also taken a similar path - come up with a flagship brand as part of its plans to become a national player
The Murli Cement deal, which comes Riders, will establish the Company's presence in Maharashtra; firm has started process of acquiring land for new plant in Rajasthan
The company registered a consolidated revenue of Rs 2,285 crore in the July-September period, over Rs 2,173 crore in the year-ago quarter
The brownfield expansion in east India involves increasing the capacity in its West Bengal plant from 1.3 mtpa to 4 mtpa and in its Rajgangpur plant by another 3 mtpa
The company's June quarter performance was good despite soft volume growth on demand woes
The region to hold its first investors' summit in October; many look at opportunities in the FMCG sector
The company's total revenue rose from Rs 2905 crore as against Rs 2695 crore in the previous fiscal
While the signage at the Red Fort indicating its adoption by Dalmia Bharat will have to be done in a 'discreet manner and tastefully', there is no such requirement for the Gandikota Fort
To expand the capacity of its cement plant in the state
OCL India hits a record high of Rs 997, up 7% and Dalmia Bharat was up 2.6% at Rs 2,043 on BSE in early morning trade.
The country has a cement making capacity of 360 mt but demand for the commodity is 290 mt