Revision in ethanol prices lift sugar stocks

Sugar stocks are in focus today as oil marketing companies (OMC) and sugar companies have fixed a price of 34 rupees a litre for ethanol after months of deliberation.

Speaking to CNBC-TV18, the Balrampur Chini management says the new pricing of ethanol is a win-win situation for both OMCs and sugar companies. The UP-based company expects realisations of 55-60 crore rupees at the new rate.

Also Read: New ethanol price to benefit OMCs, sugar companies: Balrampur Chini

Cabinet Committee on Economic Affairs (CCEA) had decontrol sugar sector with certain riders on April 4, 2013. The sugar industry was the only industry left under the government control. The decontrol was largely in line with recommendations made by the Rangarajan committee.

At 12:25 hrs Balrampur Chini Mills was quoting at Rs 48.55, up Rs 0.60, or 1.25 percent. It has touched an intraday high of Rs 48.90 and an intraday low of Rs 47.40.

At 12:24 hrs Bajaj Hindusthan was quoting at Rs 20.10, up Rs 0.25, or 1.26 percent. It has touched an intraday high of Rs 20.30 and an intraday low of Rs 19.60.

At 12:23 hrs Dhampur Sugar Mills was quoting at Rs 46.00, up Rs 0.65, or 1.43 percent. It has touched an intraday high of Rs 46.50 and an intraday low of Rs 45.50. It was trading with volumes of 5,917 shares