Sugar stocks surge over 8% as govt again backs ethanol

Sugar stocks surged on Tuesday as Oil & Petroleum Minister Hardeep Singh Puri reinforced the government's focus on ethanol production, with notable gains seen in companies like Bajaj Hindusthan, Triveni Engineering, Avadh Sugar, and Uttam Sugar.

Most surged on Tuesday, after oil & petroleum minister Puri reiterated the government's focus on production. Money managers and analysts said stocks could continue to firm up as the on growth becomes clearer. Shares of and gained 8.9% each, while Avadh Sugar and rose 6.5% and 5.1%, respectively. , and advanced over 4% each. Magadh Sugar and moved up 3.2% and 1.9%.

Source: Stocks-Markets-Economic Times