Sugar company scrips surge by as much as 8%

Stocks of sugar companies gained as much as 8 per cent after the government on Friday hiked import duty on both raw and refined sugar to 25 per cent from existing 15 per cent. Shares of Dwarikesh Sugar Industries rallied 7.83 per cent, while Bajaj Hindusthan Ltd surged 5.32 per cent on the BSE. Oudh Sugar Mills gained 4.64 per cent, Shree Renuka Sugars (4.44 per cent), Triveni Engineering & Industries (3.05 per cent) and Balrampur Chini Mills (2.21 per cent).