Balrampur Chini Mills, Dhampur Sugar Mills, EID Parry, other sugar stocks rise up to 8% on ethanol price hike approval reports

Balrampur Chini Mills, Dhampur Sugar Mills, Shree Renuka Sugars, EID Parry and other sugar stocks climbed up to 8% on Wednesday, January 29.

The Cabinet Committee on Economic Affairs (CCEA) announcement for the same is expected to be announced later in the day.

Shree Renuka Sugars shares were up 4.3%, while Uttar Sugar Mills stock advanced 5%.

Bannari Amman Sugars ascended 5.68% to ₹3,600.10.

The Centre is looking to raise the price of ethanol derived from B-heavy molasses to ₹62.55 per litre, an increase of ₹1.82 per litre from the present ₹60.73 per litre, the report said.

The price of ethanol derived from cane juice is expected to increase to ₹66.92 per litre, up ₹1.31 per litre from ₹ 65.61 per litre currently. The government may also increase the price of ethanol produced from C-heavy molasses to ₹56.28 per litre from ₹49.41 per litre.