Sugar stocks decline after govt’s ethanol move
时间:2024-06-29 04:37:26 阅读(143)
Stock prices of major sugar companies fell on Monday after the government’s decision to discontinue the use of sugarcane juice, or sugar syrup, for ethanol production during the supply year 2023-24 (November-October).Stock prices of Balrampur Chini and Dhampur Sugar declined by 3% and 2.3% to Rs 397 and Rs 246, respectively, compared with prices prevailed on December 7, when the government had made the announcement.
Share prices of Triveni Engineering and Shree Renuka Sugar witnessed a marginal decline compared with December 7 prices to Rs 47.35 and Rs 346.2.A senior official with a sugar company told FE that the real impact of disruption in supply of sugar syrup for ethanol production is yet to be assessed.“The restriction will result in lower diversion towards ethanol, which may lead to the ethanol blending ratio falling below 10% for ESY2024. The same was around 12% for ESY2023,” Sabyasachi Majumdar, senior vice president and group head, ICRA, said. However, the tight demand-supply situation is expected to keep sugar prices firm and profit margins at a satisfactory level.
猜你喜欢
- Israel’s major military operation in West Bank! Intense attack grips Jenin – See Photos
- FirstMeridian Business Services gets Sebi’s go ahead to float Rs 800-cr IPO
- SGX Nifty falls- Nifty, Bank Nifty technical view, global cues; key things to know before share market opens
- SGX Nifty up, global cues, Aether Industries IPO, stocks under F&O ban; key things to watch on 25 May 2022
- Final farewell- Queen Elizabeth II will be laid to rest at state funeral-PHOTOS
- Investors move to gold as geopolitical tensions rise
- Fabindia shelves $482 million IPO due to rough market conditions
- IT companies expected to report soft Q3 as higher furloughs to weigh on revenue growth
- F&O watch- Nifty support at 15,400-15,600; Bank Nifty remains neutral; check Nifty trading strategy