A gazette notification by the Oil Ministry directed oil companies to sell ethanol-blended petrol with a 20 per cent ethanol as per the Bureau of Indian Standards specifications with effect from April 2023.
Shares of Balrampur Chini Mills rallied 8 per cent to Rs 325.85, whereas Rana Sugars showed similar gains to trade at Rs 15.92. Shree Renuka Sugars and Bajaj Hindustan hit upper circuit limits of 5 per cent to Rs 15.65 and Rs 11.70, respectively.
As the government advanced 20 per cent ethanol blending by 2 years to 2023 from 2025, the shares of sugar companies rallied up to 8 per cent on the BSE in intra-day trade on Thursday.
Read more about Market Wrap Podcast, June 3: Here s all that happened in the markets today on Business Standard. On the NSE, the 50-share index added 114 points, or 0.73 per cent, to settle the day at 15,690