Shares of sugar makers surge on government’s ethanol push, but stagnant prices and supply risks threaten to spoil the party
Stocks to Watch, 11 August: Stocks like Tata Motors, IDFC First Bank, Manappuram Finance, Power Mech Projects, Entero Healthcare Solutions, Voltas, Siemens, RBL Bank, DCW, Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation will be in focus on August 11.
Stocks to Watch, 19 May: Stocks like Zen Technologies, Arvind Fashions, Galaxy Surfactants, KRBL, Kalpataru Projects International, IOL Chemicals, Repco Home Finance, CreditAccess Grameen, Dhampur Sugar Mills, Gujarat Alkalies, Kaynes Technology India, Texmaco Rail & Engineering, Sterlite Technologies, and Dr Reddy's Laboratories will be in focus on May 19.
Sugar stocks surged after the government greenlit the use of sugarcane juice and B-Heavy molasses for Rectified Spirit and Extra Neutral Alcohol production, boosting shares of major players like Bajaj Hindustan Sugar and Balrampur Chini Mills.
Sugar stocks climbed up to 5% after reports that the government is considering raising ethanol prices to boost production and meet the 20% blending target by 2025-26.
Sharekhan is bullish on Dhampur Sugar Mills has recommended buy rating on the stock with a target price of Rs 315 in its research report dated August 09, 2023.
Dhampur Sugar Mills stock has given a return of 22.11 percent over the last six months against Nifty's 0.24 percent over the same period
Sharekhan is bullish on Dhampur Sugar Mills has recommended buy rating on the stock with a target price of Rs 315 in its research report dated May 08, 2023.