Balrampur Chini Mills, Triveni Engineering, EID Parry and Dhampur Sugar increased around 3 percent eachSugar shares surged more than 3 percent on the BSE after the government advanced the ethanol mixing program by 2 years to 2023 in an attempt to minimize India's reliance on oil imports.
At 12:55 pm, Balrampur Chini Mills, Triveni Engineering - Industries, EID Parry (India), Dhampur Sugar Mills and Dwarikesh Sugar Industries rose around 3 per cent each on the BSE.Last year, the federal government had set a target of reaching 10 percent ethanol-blending in gas by 2022 and 20 percent doping by 2030.
Earlier this year, the target for 20 per cent blending was brought forward to the year 2025 and this has actually now been advanced to April 2023.
Sugar stocks have likewise been bullish in the current unpaid to increase in Indian sugar exports as Brazil, which is the largest manufacturer and exporter of sugar, is facing the worst sugar production in 91 years.
The BSE Sensex and NSE Nifty were trading higher by 0.3 per cent each at the time.