Stock Market

Ludlow Jute, Cheviot rally as Cabinet clears mandatory jute packaging

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NEW DELHI: Shares of Ludlow Jute and Specialities (up 17.49 per cent) and Cheviot (up 12.54 per cent) surged in Thursday's session after the Union Cabinet raised mandatory jute packaging for food grains.

The Cabinet gave its nod to raise jute packaging for food grains to 100 per cent from 80 per cent.

With this, the government has made jute bags mandatory for food grain packaging in 2018-19. Meanwhile, market erased most gains earned in the first half of trade and turned flat on losses in select bank, auto and metal counters amid mixed global cues. The BSE Sensex was trading 9 points up at 35,208 around 1:15 pm.




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