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Sugar shares in demand; Balrampur, Dalmia Bharat rally over 30% in a month

Shares of sugar companies continued their upward march on Thursday. In the past one month, Balrampur Chini Mills, Dalmia Bharat Sugar and Triveni Engineering have moved up in the range of 30 per cent to 43 per cent on expectation of improved earnings. In comparison, the S&P BSE Sensex was down nearly 4 per cent during the same period. With the government’s aggressive stance on increasing ethanol blending with petrol to levels of 20 per cent by 2025, the industry is undertaking huge capacity expansion programmes to meet the ethanol requirement of 10 billion litre by 2025, analysts say. This distillery capacity addition to utilise the B-Heavy & sugarcane juice route to produce ethanol, would be earnings accretive after the significant increase in ethanol prices in last two years, they believe.

Late filing: Apex court dismisses CBIC appeal against Balrampur Chini Mill

January 22, 2021 The CBIC had recently issued a circular asking field formations to strictly adhere to the aspect of limitation in filing appeals/ petitions before courts or tribunal   -  Getty Images/iStockphoto The CBIC had recently issued a circular asking field formations to strictly adhere to the aspect of limitation in filing appeals/ petitions before courts or tribunal   -  Getty Images/iStockphoto× There was a delay of 426 days in filing Special Leave Petition against an High Court order In what could be a wake up call for the Central Board of Indirect Taxes and Customs (CBIC) officials, the Supreme Court has dismissed an appeal filed by the board against Balrampur Chini Mill on account of delay in filing. The decision comes just two days after the CBIC had asked its officials to strictly comply with the timeline in filing appeals.

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