Sugar stocks soar such as Balrampur Chini Mills, Shree Renuka Sugars, Dhampur Sugar Mills, Avadh Sugar & Energy, Rajshree Sugars & Chemicals and Bajaj Hindusthan Sugar rallied up to 20 per cent on Tuesday.
The rally follows as the government without any quantitative restrictions in the 2025-26 marketing year starting November.
As another development, the Supreme Court dismissed a plea that challenged the nationwide rollout of 20 per cent Ethanol Blended Petrol (EBP-20) and sought the option of ethanol-free petrol.
traded at the upper circuit on the at ₹45.36, higher by 20 per cent.
surged 5.84 per cent to ₹573.40 at 12.55 pm, hitting an intraday high of ₹584.40.
jumped 14 per cent to ₹32.77, trading close to intraday high of ₹33.50.
Other stocks namely Bajaj Hindusthan Sugar and Dhampur Sugar zoomed 14 per cent each, Dalmia Bharat Sugar (+8 per cent) and Magadh Sugar & Energy soared 11 per cent. EID Parry gained over 3 per cent in early trade.
InCred Equities emphasised that there were no restrictions in ESY25 either; the last real curbs on feedstock were back in ESY24. The brokerage highlighted that the country’s sugarcane forecasts have become less forecast, more folklore. Projections of 34 MMT in 2023/24 and 35.5 MMT in 2024/25 revised to 29.5 MMT and 28 MMT, respectively, with 2025/26 projections on an optimistic note at 35.25 MMT.
Forecasts keep inflating, but outcomes collapse like a May heatwave—loud, sweaty, and brutally honest, it said.
InCred maintains an add rating on grain-based distilleries, supported by favourable crop trends, but a reduce rating on sugar-based players due to weak fundamentals and policy headwinds.