Sugar stocks gain on revival hopes

Sugar stocks surged on revival hopes amid talk of blending in petrol and import duty hike on sugar

Sugar stocks surged on hopes that the Modi-led government would help revive the industry by encouraging ethanol blending in petrol and also hike import duty on the commodity to support local prices.

The ministries of road transport and highways, heavy industries, food and agriculture are expected to conduct a meeting in order to discuss ethanol blending in petrol and import of E85 engines that run on 85% blend of ethanol. Foreign auto majors have deployed E85 engines in countries like Canada and Brazil.

Shares of Bajaj Hindusthan zoomed 9.8 % to Rs 27 on the BSE. The stock opened at Rs 25.2 touched a high of Rs 27 and a low of Rs 25 on the BSE. Over9,691,021  shares have been traded on both the stock exchanges so far.

Shares of Dhampur Sugar Mills surged 11.3% to Rs 59.8 on the BSE. The stock opened at Rs 54.5, touched a high of Rs 61.4 and a low of Rs 54 on the BSE. Over 1,263,176 shares have been traded on both the stock exchanges so far.
Shares of Shree Renuka Sugar Mills rose 8.8% to Rs 27 on the BSE. The stock opened at Rs 25, touched a high of Rs 27.5 and a low of Rs 25 on the BSE. Over 17,990,593 shares have been traded on both the stock exchanges so far.

Shares of Balram Chini Mills increased 7.3% to Rs 79.9 on the BSE. The stock opened at Rs 74.9, touched a high of Rs 81.9 and a low of Rs 74.9 on the BSE. Over 2,207,836 shares have been traded on both the stock exchanges so far.