“After the two weeks of confusion, this is a positive move for the sugar companies. The government allowing the industry to divert some amount of sugar juice towards ethanol, is clearly a positive move in terms of the profitability that would have happened otherwise if the ban would have remained. So, net-net, this is a positive move from a margin standpoint.”
Firm Price Forecasts Drive Sugar Stocks Surge of Up to 10% vervetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vervetimes.com Daily Mail and Mail on Sunday newspapers.
Avadh Sugar & Energy surged 10%. Uttam Sugar Mills, Dalmia Bharat, Shree Renuka Sugar, and Dhampur Sugar Mills rose between 5% and 6%. Balrampur Chini and Bajaj Hindusthan moved up by 1-2%.