Shares of&nbsp;Indian&nbsp;sugar&nbsp;companies rose on Tuesday following&nbsp;reports&nbsp;that the federal government would announce a bailout package of over 70 billion rupees ($1.04 billion) for cash-starved&nbsp;sugar&nbsp;mills to help clear dues to farmers.

Dhampur&nbsp;Sugar&nbsp;Mills Ltd and Mawana&nbsp;Sugars Ltd gained 7 per cent each, while Balrampur Chini Mills Ltd and Avadh&nbsp;Sugar&nbsp;& Energy Ltd climbed more than 6 per cent each.

Uttam&nbsp;Sugar&nbsp;Mills Ltd, Magadh&nbsp;Sugar&nbsp;& Energy Ltd and Dalmia Bharat&nbsp;Sugar&nbsp;and Industries Ltd rose 4 per cent each.

The Cabinet Committee on Economic Affairs is scheduled to meet on Tuesday to decide on the bailout, according to the report.

Reuters reported late last month, citing official sources, that the government would soon approve a plan to create "buffer&nbsp;stocks" of 3 million tonnes of&nbsp;sugar&nbsp;to prune surplus in the domestic market and stem a free fall in prices.

Uttam Sugar Mills Ltd, Magadh Sugar & Energy Ltd and Dalmia Bharat Sugar and Industries Ltd rose 4 percent each

Shares of Indian sugar companies rose on Tuesday following reports that the federal government would announce a bailout package of over 70 billion rupees ($1.04 billion) for cash-starved sugar mills to help clear dues to farmers. Dhampur Sugar Mills Ltd and Mawana Sugars Ltd gained 7 per cent each, while Balrampur Chini Mills Ltd and Avadh Sugar & Energy Ltd climbed more than 6 per cent each. Uttam Sugar Mills Ltd, Magadh Sugar & Energy Ltd and Dalmia Bharat Sugar and Industries Ltd rose 4 per cent each. The Cabinet Committee on Economic Affairs is scheduled to meet on Tuesday to decide on the bailout, according to the report. Reuters reported late last month, citing official sources, that the government would soon approve a plan to create "buffer stocks" of 3 million tonnes of sugar to prune surplus in the domestic market and stem a free fall in prices.

Sugar stocks surge as Centre announces a bailout package of Rs 7000 crore

uttam-sugar-mills

Uttam Sugar Mills, News on Uttam Sugar Mills, stories on Uttam Sugar Mills, articles on Uttam Sugar Mills, Uttam Sugar Mills stories at Wion, Uttam Sugar Mills news, Uttam Sugar Mills latest news

uttam sugar-mills

Sugar stocks surge as Centre announces a bailout package of Rs 7000 crore