Gold Silver Reports (GSR) – Hindalco, NALCO, Vedanta Slump As Aluminium Price Falls Most Since 2010 – Shares of Hindalco, Vedanta and NALCO fell as much as 9 percent after aluminium slumped 7 percent on London Metal Exchange, the most since 2010, following softening of the U.S. government’s stance on Russian sanctions.
The U.S. softened its position on sanctions against Russian metals giant United Co. Rusal, sparking a record plunge in aluminum prices.
Sugar Producers Rise On Expectation Of Cane Subsidy
Shares of sugar producers in the country surged on expectations that the government may impose a subsidy on sugarcane. An informal ministerial panel yesterday explored options of the production-linked subsidy, imposition of a sugar cess and reducing goods and services tax on ethanol to help sugar mills in clearing dues worth Rs 19,000 crore to sugarcane farmers.
✅ Balarampur Chini Mills Ltd. rose as much as 4.3 percent to Rs 71.6
✅ Dhampur Sugar Mills Ltd. rose as much as 4.5 percent to Rs 101.7
✅ Bajaj Hindusthan Sugar Ltd. rose as much as 3.9 percent to Rs 9.3
✅ KCP Sugar and Industries Corporation Ltd. rose as much 3.4 percent to Rs 25.9