Sugar shares rally up to 8% as ethanol blending programme advanced to 2023

ICICI Securities believes this would encourage sugar companies to further add sugarcane juice and grain-based ethanol capacities

Shares of sugar companies rallied up to 8 per cent on the BSE in intra-day trade on Thursday after the government brought forward the target date for achieving 20 per cent ethanol-blending with petrol by two years to 2023 to help reduce India's dependence on costly oil imports.

Balrampur Chini Mills rallied 8 per cent to Rs 325.85 on the BSE in intra-day trade today. At 09:27 am, the stock was up 5 per cent, as compared to 0.62 per cent rise in the S&P BSE Sensex. Triveni Engineering & Industries, EID Parry (India), Dhampur Sugar Mills, Dwarikesh Sugar