Indian sugar industry stocks surge on Ethanol rules

Date October 10, 2007

Indian sugar industry was upbeat today after new ethanol rules were announced by the government. There was a surge in sugar stocks led by Bajaj Hindusthan, which zoomed by more than 12%. Other sugar stocks which saw double digit price increase today were Balrampur Chini Mills and Triveni Sugar. Government of India has allowed sugar companies in India to manufacture ethanol directly from sugarcane juice, rather than from molasses. The government also made 5 percent blending of ethonol with petrol and diesel mandatory from this month and gave state government the option to double it to 10 percent.

Category Posted in Indian Stock Market