Sugar Stocks Surge Up to 16% on Government Policy Change

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