Sugar stocks rally as govt allows production of RS, ENA from sugarcane juice, B-Heavy molasses
On September 16, sugar stocks surged after the Department of Food and Public Distribution (DFPD) allowed sugar mills and distilleries to produce Rectified Spirit (RS) and Extra Neutral Alcohol (ENA) using sugarcane juice and B-heavy molasses. This follows recent government approval for ethanol production from various sugarcane derivatives for the 2024-25 Ethanol Supply Year (ESY). Shares of companies like Dhampur Sugar Mills, Bajaj Hindustan Sugar, Balrampur Chini Mills, and others saw gains of over 2%.
Sugar stocks rallied on September 16 after the Department of Food and Public Distribution (DFPD) authorised sugar mills and distilleries to manufacture Rectified Spirit (RS) and Extra Neutral Alcohol (ENA) using sugarcane juice and B-heavy molasses.
The move came alongside the government’s recent approval for sugar mills and distilleries to produce ethanol from sugarcane juice, B-Heavy molasses, and C-Heavy molasses for the Ethanol Supply Year (ESY) 2024-25.
Shares of Dhampur Sugar Mills, Bajaj Hindustan Sugar, Balrampur Chini Mills, Dalmia Bharat, Awadh Sugar, Mawana Sugars, Shree Renuka Sugar, Triveni Engineering rose over 2 percent.
DCM Shriram Industries, Dharani Sugars, Bannari Amman Sugars, Davangere Sugar Company, EID Parry stocks were also trading with gains of around 1-2 percent.
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