Sugar rush! Praj Industries, Balrampur Chini shares jump by over 6% on boost from ethanol blending

Apart from Praj, the other that captured investor’s eyeballs included (up 3.5%), Magadh Sugar & Energy (3%), (3%) and (2%). Meanwhile, and jumped up to 1%.

Addressing the media, Puri emphasised the accelerated goal originally set for 2030, demonstrating India's commitment to enhancing its energy matrix. "In the month of May only we were able to cross 15% of ethanol blending. Based on the current progress, I am reasonably confident that the 20 per cent blending target will be completed by the year 2025," Puri said.

In addition to biofuel integration, Puri highlighted the launch of as part of India's strategy to reduce carbon emissions.

Not all were winners though, as and were on the losing side, declining by up to 0.34% over the Tuesday closing price.

Even as the local factors played positively on the sugar stocks, certain global trends were also responsible behind the uptick. on Intercontinental Exchange (ICE) rose on Tuesday as production in Brazil lost momentum after a fast start to the harvest while cocoa prices also gained, Reuters reported. A survey of analysts by S&P Global Commodity Insights found that is expected to fall by 0.8% year on year in the second half of May to 2.9 million metric tons, the report said.

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