Sugar stocks sweeten market mood; Balrampur, Dhampur, Triveni gain up to 8%

Ethanol demand should grow at a 15 per cent CAGR over FY22-30E driven by the government's mandate of 20 per cent ethanol-blending in petrol, analysts say

Shares of sugar companies were buzzing on the bourses on Thursday, with most of the frontline stocks trading higher by up to 8 per cent on the BSE on higher ethanol demand due to rising oil prices.

Individually, Balrampur Chini Mills, Dhampur Sugar Mills, Triveni Engineering, Shree Renuka Sugars, Dwarikesh Sugar Industries and Dalmia Bharat Sugar and Industries rallied between 5 per cent and 8 per cent in the intra-day trade. In comparison, the S&P BSE Sensex was up 0.25 per cent at 55,605 points at 10:05 AM.

"With the expected production of 31.5 million tonnes, consumption of