The Union Cabinet has approved the proposal to hike ethanol prices, ET Now reported citing sources Wednesday. Details of the proposal are yet to be known.Set by the government, ethanol prices have not been raised since the 2022-23 ethanol supply year (November-October). Current rates of ethanol produced from cane juice, B-Heavy molasses, and C-Heavy molasses are Rs 65.61, Rs 60.73 and Rs 56.28 per litre, respectively.
Shares of sugar and ethanol-linked company stocks rallied, with EID-Parry, Shree Renuka Sugars, Balrampur Chini Mills and Triveni Engineering gaining 3.7%, 4.5%, 2.5% and 2.3% as of 1:10 pm on BSE Sensex, which was up 0.62%.
(More to come)
Content Source: economictimes.indiatimes.com