Sugar stocks including, Dwarikesh Sugar, and Balrampur Chini fell up to 4 per cent in trade after the government prohibited sugar exports with immediate effect until September 30.
At 10:57 AM, individually, among others, Dalmia Bharat Sugar and Industries shares were trading over 3 per cent higher
The rally in sugar stocks followed a sharp spike in crude prices, with brent rising above $115 per barrel amid escalating tensions involving the US, Israel, and Iran
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.