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Sugar business expects to regain when worth rise, govt measures - The surge in sugar prices follows the central government’s announcements to support the industry weeks before the crushing season a few weeks away. The expected decline in 2019-20 sugar production coupled with the announcement on the creation of 4 million tonnes (MT) of sugar buffer stock and subsidy on 6 MT sugar exports resulted in sugar prices rising to Rs 34-34.5/kg (ex-mill Uttar Pradesh), according to a report by rating agency ICRA. Sugarcane is Rs 31.8/32 per kg in Maharashtra against the minimum selling price of Rs 31. The ICRA raids the government’s measures were likely to result in improvement in the liquidity of sugar mills, thus supporting cane payments to farmers as well. Domestic sugar production is likely to decline to around 28.2 MT compared to 32.9 MT in 2018-19, because of the near-drought in Maharashtra and Karnataka. After a sharp decline over recent quarters, prices of crude palm oil (C...

Yes Bank, Heromotocorp down - Yes Bank, NTPC, ONGC are among the biggest losers, slumping up to 2%. The government has approved 100% Foreign Direct Investment (FDI) through the automatic route in coal mining, its sale and all its associated infrastructure. The government has also approved 100 percent FDI through the direct route in contract manufacturing, said Commerce Minister Piyush Goyal at the Cabinet briefing yesterday. Indiabulls Housing Hits Over Four-Year Low - Indiabulls Housing Hits Over Four-Year Low Shares of the non-banking lender slumped close to 8 percent to Rs 420.80 each, its lowest level since December 2014. Indiabulls Housing Finance to be excluded from Nifty 50 Index with effect from Sept. 27 and will be replaced by Nestle India, according to a statement from the exchange. Also, the company’s board approved raising non-convertible debentures up to Rs 1,50,000 crore. MARKET ALERT |  1. India 10-year bond yield opens at 6.57%, unchanged from th...