Sixteen sugar stocks rose by 0.88% to 10.05% at 10:34 IST on BSE on report the government is planning revival of sugar industries by pushing ethanol blending in petrol and releasing arrears of cane growers in Uttar Pradesh.
Dhampur Sugar Mills (up 10.05%), Triveni Engineering & Industries (up 9.85%), Bajaj Hindusthan (up 9.82%), Shree Renuka Sugars (up 8.84%), Balrampur Chini Mills (up 8.32%), Empee Sugars and Chemicals (up 6.42%), KCP Sugar & Industries Corporation (up 5.96%), Eastern Sugar & Industries (up 5.83%), Upper Ganges Sugar & Industries (up 5%), Dwarikesh Sugar Industries (up 4.99%), Sakthi Sugars (up 4.89%), Rana Sugars (up 4.84%), DCM Shriram Industries (up 4.23%), Oudh Sugar Mills (up 3.66%), EID Parry (India) (up 2.61%) and Simbhaoli Sugars (up 0.88%), edged higher.
The S&P BSE Sensex was up 47.59 points, or 0.19% at 24,732.44.
According to the report, revival of sugar industries by pushing ethanol blending in petrol and releasing arrears of cane growers in Uttar Pradesh have become priorities for the Narendra Modi government. Two key BJP ministers from Maharashtra and three from Uttar Pradesh, both major sugar producers, are meeting food and consumer affairs minister Ram Vilas Paswan on Wednesday, 4 May 2014, to tackle these issues.
The corridors of road transport and highways, heavy industries and food ministries were abuzz with talk of government's thrust on ethanol ever since road transport minister Nitin Gadkari asked his ministry to study whether auto companies can import E85 engines, used in countries such as Brazil and Canada, into India, report added.
E85 engines use a mixture of 85% ethanol and 15% petrol.
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