Triveni Engineering & Industries surged 8 per cent to ₹401, while Balrampur Chini Mills soared 7 per cent to ₹512.10 on the BSE in Wednesday's intra-day deals.
With a successive increase in cane price across India, but without any proportionate increase in ethanol price, sugar-based ethanol has seen a significant erosion in margins, say analysts.
Bullish signs on charts: Hitesh Tailor of Choice Broking explains that BEL has witnessed a decisive symmetrical triangle breakout, while Dr Reddy's and Triveni Engineering saw 'Golden Crossovers'.
Triveni Engineering shares gained after the company announced its entry into Delhi's IMFL market, expanding its presence in the fast-growing premium & super-premium whisky segment.