These ethanol-oriented sugar stocks are under pressure after govt curbs
Shares of sugar and ethanol manufacturers like Balrampur Chini Mills, Dalmia Bharat Sugar, Shree Renuka Sugars, and Triveni Engineering declined up to 3 percent on December 7 following India’s plan to curb ethanol production from sugarcane as it battles sugar shortage in domestic market.
In the past one week, shares of Balrampur Chini Mills, Dalmia Bharat Sugar, Shree Renuka Sugars, and Triveni Engineering have declined in the range of 1 percent to 8 percent, while ethanol-plant manufacturer Praj Industries gained 1 percent, showed data. In comparison, the S&P BSE Sensex surged 4 percent during the same period.
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According to Department of Food and Public Distribution Record of Decisions, no ethanol from sugarcane juice and B-heavy molasses will be procured by oil marketing companies (OMCs) with immediate effect. However, ethanol from C-heavy molasses will be encouraged, the notification from December 5 read
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