By: Pocketful: 30 August 2024
Dalmia Bharat Sugar up 9.27% to ₹483.10 KCP Sugar surged 10.14% to ₹59.30 Shree Renuka Sugars advanced 8.27% to ₹51.30
Notable Gains in Sugar Stocks
Bajaj Hindusthan Sugar up 8.15% at ₹44.06 Balrampur Chini Mills climbed 6.63% to ₹617 Triveni Engineering & Industries up 7.68% at ₹472.75
Other Top Performers
Government allows distilleries to use cane juice or syrup for ethanol starting November 1 Previously imposed restrictions to increase sugar output lifted
Government Policy Change
Use of B-heavy molasses with higher sucrose levels now permitted 750,000 metric tons of B-heavy molasses available for ethanol production
Ethanol Production Expansion
34 out of 35 listed sugar stocks traded higher Increased investor optimism following government announcement
Market Impact
Ugar Sugar Works soared 9.48% to ₹91.16 Rajshree Sugars gained 7.89% to ₹79.21 Magadh Sugar & Energy climbed 10.65% to ₹975
More Sugar Stocks Rising