Sugar stocks surge over 8% as govt again backs ethanol

Most sugar stocks surged on Tuesday, after oil & petroleum minister Hardeep Singh Puri reiterated the government's focus on ethanol production. Money managers and analysts said sugar stocks could continue to firm up as the government policy on ethanol production growth becomes clearer. Shares of Bajaj Hindusthan and Triveni Engineering gained 8.9% each, while Avadh Sugar and Uttam Sugar rose 6.5% and 5.1%, respectively. Dhampur Sugar, Shree Renuka and Dalmia Bharat advanced over 4% each. Magadh Sugar and Balrampur Chini moved up 3.2% and 1.9%.