Union Petroleum Minister Hardeep Puri lauded the initiative in a tweet, emphasizing its role in ensuring farmers' prosperity, conserving foreign exchange, and promoting sustainability. He highlighted that this incentive supports the government's vision for a cleaner and more eco-friendly future through the Ethanol Blended Petrol Programme, under the leadership of Prime Minister Narendra Modi.
In the past week, the market experienced some turbulence, particularly on Wednesday when a significant dip was observed, impacting small- and mid-cap stocks. Approximately 668 stocks suffered a decline of more than 4.5%.
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OMCs have placed an order for 12.8 crore litres amounting to Rs 896 crore while oil companies placed an order for 3.75 crore litres totalling to Rs 268 crore.