Shares of sugar production companies fell on Thursday, after reports that India was mulling a curb on ethanol production from sugarcane, as it grapples with sugar shortage.
India, world's second largest sugar producer, is going over a proposal to limit sugar cane's usage to make the biofuel, a Bloomberg report said. However, no decision has been made yet, and plans may change.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
If the proposal is approved, it could help ease local shortage. The Directorate General of Foreign Trade had restricted exports of raw, white and refined sugar in October 2022. Although the restriction was supposed to be lifted on Oct. 31, 2023, it was extended as weak monsoons affected sugar crops.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Stock Movement
Dalmia Bharat Sugar and Industries Ltd. was the top loser among peers, with the stock falling 6.14%. Bajaj Hindusthan Sugar Ltd. was the second worst performing stock, declining 5.95%.
Shares of Shree Renuka Sugars Ltd. and Balrampur Chini Mills Ltd. were down 4.05% and 5.08%, respectively.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
