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Sugar stocks surged as the Centre has hiked the import duty on sugar from 40 per cent to 50 per cent, to check cheap imports.
The Finance Ministry has issued a fresh notification raising the import duty from the 40 per cent rate announced on June 30 to 50 per cent.
Shares of Dalmia Bharat Sugar and Industries Ltd, Bajaj Hindusthan Sugar Ltd, Balrampur Chini Mills Ltd, and Ugar Sugar Ltd post gains in the range of 2-8 per cent.
Sugar stocks have seen a significant growth this year, with Bajaj Hindusthan Suga r up 13.6 per cent, Dalmia Bharat Sugar up 10.8 per cent and Balrampur Chini Mills up 22.3 per cent as of Monday's close.
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