Shares of sugar companies have rallied on the bourses on reports that the Prime Minister Manmohan Singh today constituted an expert committee, headed by his Economic Advisory Council Chairman C. Rangarajan, to examine issues related to decontrol of the sugar sector.

Shree Renuka Sugars, Bajaj Hindustan, Triveni Engineering, Balrampur Chini Mills and Mawana Sugars are among the frontline sugar stocks have rallied more than 5% each on the Bombay Stock Exchange.

“The committee would look into all the issues relating to deregulation of the sugar sector and it has been requested to complete its task as early as possible and give its recommendations to the Prime Minister," a PTI report suggests quoting a statement issued by PMO.

The other members of the committee include Kaushik Basu, Chief Economic Adviser, Ministry of Finance, and secretaries to the Department of Food and Agriculture.