Sugar stocks surge over 8% as govt again backs ethanol
On Tuesday, sugar stocks surged following Oil & Petroleum Minister Hardeep Singh Puri’s reaffirmation of the government’s focus on ethanol production. Bajaj Hindusthan and Triveni Engineering shares jumped 8.9% each, while Avadh Sugar and Uttam Sugar rose 6.5% and 5.1%, respectively. Dhampur Sugar, Shree Renuka, and Dalmia Bharat gained over 4% each, with Magadh Sugar and Balrampur Chini up 3.2% and 1.9%. Analysts expect continued strength as ethanol policy clarity increases.
Most sugar stocks surged on Tuesday, after oil & petroleum minister Hardeep Singh Puri reiterated the government’s focus on ethanol production. Money managers and analysts said sugar stocks could continue to firm up as the government policy on ethanol production growth becomes clearer. Shares of Bajaj Hindusthan and Triveni Engineering gained 8.9% each, while Avadh Sugar and Uttam Sugar rose 6.5% and 5.1%, respectively. Dhampur Sugar, Shree Renuka and Dalmia Bharat advanced over 4% each. Magadh Sugar and Balrampur Chini moved up 3.2% and 1.9%.
Recommended for you
