Sugar stocks were on buyers radar today, gaining as much as 20 per cent, on hopes of revival of the industry.
Shares of Triveni Engineering & Industries Ltd zoomed 19.91 per cent, while Dhampur Sugar Mills gained 11.44 per cent on the BSE.
Shree Renuka Sugars surged 10.44 per cent, while Bajaj Hindusthan soared 9.82 per cent, Empee Sugars and Chemicals (9.80 per cent), Balrampur Chini (7.79 per cent) and Simbhaoli Sugars (4.97 per cent).
According to media reports, the government may push for ethanol blending in petrol up from current 5 per cent level, and that will help to release arrears of cane growers in Uttar Pradesh.
The government will also increase the import duty on the sweetener to support local prices, they added.
Meanwhile, concerned over huge cane arrears to farmers, Food Minister Ram Vilas Paswan is likely to meet his Cabinet colleagues from Uttar Pradesh and Maharashtra tomorrow to resolve the matter at the earliest.
