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<keyword id="19964206" type="General" weightage="100" keywordseo="sugar-stocks" source="keywords">Sugar stocks</keyword> were in the limelight on Friday, a day after the government permitted the use of <keyword id="21250424" type="General" weightage="20" keywordseo="sugarcane-juice" source="keywords">sugarcane juice</keyword> and <keyword id="22572023" type="General" weightage="20" keywordseo="sugar-syrup" source="keywords">sugar syrup</keyword> for <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> in the 2024-25 ethanol supply year (ESY). Shares of <keyword id="22132945" type="General" weightage="20" keywordseo="Triveni-Engineering" source="keywords">Triveni Engineering</keyword> &amp; Industries jumped 7.62 per cent, <keyword id="20207681" type="General" weightage="20" keywordseo="Dhampur-Sugar" source="keywords">Dhampur Sugar</keyword> Mills rallied 7.55 per cent, <keyword id="22979412" type="General" weightage="20" keywordseo="Avadh-Sugar-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="Avadh Sugar &amp; Energy" meta.hostid="261" meta.entityid="Avadh Sugar &amp; Energy">Avadh Sugar &amp; Energy</keyword> zoomed 7.20 per cent and <keyword id="22979413" type="General" weightage="20" keywordseo="Dalmia-Bharat-Sugar" source="keywords">Dalmia Bharat Sugar</keyword> and Industries surged 5.79 per cent on the BSE. The stock of <keyword id="20682741" type="General" weightage="20" keywordseo="Shree-Renuka-Sugars" source="keywords" meta.keywordsubtype="org" meta.entityname="Shree Renuka Sugars" meta.hostid="261" meta.entityid="Shree Renuka Sugars">Shree Renuka Sugars</keyword> climbed 5.38 per cent, Praj Industries soared 5.33 per cent, Dwarikesh Sugar (3.77 per cent) and Balrampur Chini Mills (3.46 per cent). "This spike followed the government's decision to allow sugar mills to use cane juice or syrup to produce ethanol for the ethanol supply year (ESY) 2024-25," Avdhut Bagkar, Technical and Derivatives Analyst at StoxBox, said. The government on Thursday permitted the use of sugarcane juice and sugar syrup for ethanol production in the 2024-25 ethanol supply year, reversing last year's ban. In December 2023, the government prohibited the use of sugarcane juice or sugar syrup for ethanol production in the 2023-24 ESY (December-November) to ensure adequate sugar availability for domestic consumption and keep prices in check. "Sugar mills and distilleries are allowed to produce ethanol from sugarcane juice/sugar syrup, B-Heavy molasses as well as C-Heavy molasses for ESY 2024-25 as per the agreement/allocation with OMCs (oil marketing companies)," the food ministry order said. The Food Ministry and Petroleum and Natural Gas Ministry will periodically review the diversion of sugar for ethanol production vis-a-vis sugar production in the country to ensure year-round availability of sugar for domestic consumption, it added. India is the world's second largest sugar producing country after Brazil.

Sugar stocks soar as govt permits use of sugar in ethanol production; Triveni Engineering, Dhampur Sugar rally over 7%

New Delhi, Shares of Sugar companies tumbled up to 3 per cent in the morning trade on Thursday after the government announced a hike in the minimum price that mills have to pay to sugarcane growers for the 2024-25 season starting October. The scrip of Rana Sugars plunged 3.21 per cent to Rs 25.35 apiece, <keyword id="20682742" type="General" weightage="20" keywordseo="mawana-sugars" source="keywords">Mawana Sugars</keyword> slumped 2.81 per cent to Rs 101.70, Rajshree Sugars &amp; Chemicals tumbled 2.50 per cent to Rs 72.62, <keyword id="20682741" type="General" weightage="20" keywordseo="shree-renuka-sugars" source="keywords">Shree Renuka Sugars</keyword> declined 2.41 per cent to Rs 48.50, KCP Sugar &amp; Industries declined 2.20 per cent to Rs 40.87, and EID Parry (India) slipped 1.57 per cent to Rs 629.20 apiece on the BSE. Also, Dalmia Bharat Sugar and Industries went lower by 1.15 per cent to Rs 403.15 per piece, Balrampur Chinni Mills fell 1.12 per cent to Rs 376.50, <keyword id="20079400" type="General" weightage="20" keywordseo="dhampur-sugar-mills" source="keywords">Dhampur Sugar Mills</keyword> down by 0.96 per cent to Rs 248 and Triveni Engineering and Industries slipped 0.76 per cent to Rs 347.80 apiece on the bourse. In the morning session, the 30-share BSE Sensex benchmark declined 410.20 points or 0.56 per cent to 72,212.89 points. On Wednesday, the central government announced a hike in the Fair and Remunerative Price (<keyword id="20544473" type="General" weightage="20" keywordseo="frp" source="keywords">FRP</keyword>), the minimum rate that mills need to pay to sugarcane growers. The FRP has been increased by Rs 25 to Rs 340 per quintal for the 2024-25 season starting October. The decision to increase the FRP was taken at the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword>. This is the highest FRP for sugarcane announced by the Prime Minister Narendra Modi-led government since coming to power in 2014. This is the second time that the Modi government has increased the FRP by Rs 25 per quintal in one go. "This decision of central government is going to benefit more than 5 crore sugarcane farmers (including family members) and lakhs of other persons involved in sugar sector," an official statement said on Wednesday.

Sugar stocks slip after govt raises fair price to ₹340 per quintal

New Delhi, Shree <keyword id="70097" type="General" weightage="20" keywordseo="Renuka-Sugars" source="Orion">Renuka Sugars</keyword> Ltd has reported a consolidated net loss of Rs 205.6 crore in the second quarter of this fiscal year. Its net loss stood at Rs 141.6 crore in the year-ago period. Total income rose to Rs 2,564.7 crore in the July-September period of this fiscal year from Rs 2,203.3 crore in the corresponding period of the previous year, according to a regulatory filing on Wednesday. Total expenses increased to Rs 2,771.9 crore in the period under review, from Rs 2,335.1 crore a year ago. Shree Renuka Sugars, a subsidiary of Singapore-based Wilmar Sugar Holdings Pte Ltd, is one of India's largest sugar and green energy (ethanol and renewable power) producers.

Renuka Sugars loss widens to Rs 205.6 cr in Sep 2023 quarter

<ul><li>After a ban on wheat exports, India is now planning to ban sugar exports, according to media reports. </li><li>This triggered a plunge in sugar companies’ stocks as exports have been a lucrative source for these companies. </li><li>Earlier, the government had announced financial and other assistance to sugar farmers, mills and distilleries. </li></ul><a href="https://www.businessinsider.in/international/news/not-just-india-many-countries-are-protecting-their-wheat-to-keep-daily-bread-affordable/articleshow/91733019.cms">After wheat</a>, reports say that the Indian government could put curbs on sugar exports. After the news hit the markets, the shares of sugar companies like Shree Renuka, Balrampur Chini, Dalmia Sugar plummeted between 5-8% in the last hour of trade today (May 24). A <a href="https://www.reuters.com/markets/commodities/india-could-restrict-sugar-exports-10-mln-t-govt-source-says-2022-05-24/">Reuters report</a> states that the government could set an export limit at 10 million tonnes, which is slightly above the export contracts of 9 million tonnes already signed for the current season. India is the world’s largest manufacturer of sugar, and the second largest exporter after Brazil. It is worth noting that the Indian government recently <a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1826708">announced</a> measures to support sugar farmers and mills financially. It increased the ‘fair &amp; remunerative price’ (FRP), and provided interest subsidies to the tune of 50% to sugar mills and distilleries. <div type="image" title="Sugar farmers 1" msid="91766899" hostid="261" caption="&amp;lt;p&amp;gt;Sugarcane farmers in a field in India&amp;lt;/p&amp;gt;"></div> Reacting to the reports, stocks of almost all sugar companies, including major ones like Shree Renuka, Balrampur Chini, Dalmia Sugar, among others, plunged by nearly 8%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Decline </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Closing market cap </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Change in market cap </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Shree Renuka </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6.66% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹9,546 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-₹681 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Balrampur Chini </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">5.75% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹7,940 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-₹484 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dalmia Sugar </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">7.66% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹3,307 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-₹274 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">EID Parry </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2.30% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹8,518 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-₹201 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Triveni Engg </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3.53% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹6,935 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-₹254 crore </td></tr></tbody></table> Source: NSE In the current sugar season, the government underlined that export contracts amounting to 9 million tonnes have been signed, and 7 million tonnes has been physically exported already. Hence, experts suggest that these sugar export curbs may not be that much of a problem. <div type="Article" hostid="261" msid="91747269" title="Foreign investors have pulled out more money this year than they brought in between 2009-2021" mstype="2" mssubtype="0"></div> “Firstly, as of today only about 7.2 million tons of sugar has been exported and once the rainy season sets in the exports will any case come down and 10 million tons is still a far way off,” Atul Chaturvedi, executive chairman of Shree Renuka Sugars told <a href="https://economictimes.indiatimes.com/news/economy/foreign-trade/india-could-restrict-sugar-exports-to-10-mln-t-govt-source-says/articleshow/91763065.cms">Economic Times</a>. <cmsannotation type="cmsannotation" annotationid="Russia-Ukraine has already triggered a global food crisis" comment="subhead" text="Russia-Ukraine has already triggered a global food crisis">Russia-Ukraine has already triggered a global food crisis</cmsannotation> Countries are rushing to protect their stocks of food grains as the Russia-Ukraine war refuses to simmer down. While Russia and Ukraine are both major exporters of food grains, countries like India, which are self-sufficient in items like wheat, rice and others, also bore the brunt of rising food prices. Across the world, 43 countries have placed protective measures to ensure they have adequate stocks of wheat. India went so far as to call out the West, saying that food grains should not face the same fate as Covid-19 vaccines. “A number of low-income societies are today confronted with the twin challenges of rising costs and difficulty in access to food grains. Even those like India, who have adequate stocks, have seen an unjustified increase in food prices,” said Minister of State for External Affairs V Muraleedharan in the UN on May 18. “It is clear that hoarding and speculation is at work. We cannot allow this to pass unchallenged,” he further added. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-mining-generates-30-7-kilotons-e-waste-annually-enough-to-cover-luxembourgs-e-waste-five-times/articleshow/91764218.cms">Bitcoin mining generates 30.7 kilotons e-waste annually – enough to cover Luxembourg’s e-waste five times</a> <a href="https://www.businessinsider.in/finance/banks/news/an-indian-credit-card-user-spends-14500-a-month-on-average-20x-more-than-debit-card-users/articleshow/91759657.cms">An Indian credit card user spends ₹14,500 a month on average – 20x more than debit card users</a> <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-more-money-this-year-than-they-brought-in-between-2009-2021/articleshow/91747269.cms">Foreign investors have pulled out more money this year than they brought in between 2009-2021</a>

Shree Renuka, Balrampur Chini, Dalmia Sugar shares plunge on export curb reports

<ul><li>Sugar producing company stocks have rallied up to 25% in the last one month on excitement of double incentive by the government for producing ethanol.</li><li>The government is taking several steps to boost <keyword id="1992365" type="General" weightage="20" keywordseo="ethanol-production" source="Orion">ethanol production</keyword>, which can be used as an alternative to fuel in car engines and thereby reduce air pollution.</li><li>The government has already addressed auto makers to start manufacturing <keyword id="10975219" type="General" weightage="20" keywordseo="flex-fuel-vehicles" source="Orion">flex fuel vehicles</keyword>, automobiles which can run on ethanol.</li></ul>Most sugar manufacturing companies have witnessed the best year as their share price doubled or even tripled in 2021 led by improving outlook and government measures to support such companies. In the last one year, the government has come out with a slew of measures to encourage sugar mills to produce ethanol. Ethanol is an alcohol-based fuel produced by fermenting the sugarcane juice. Ethanol has been a game changer for the sugar industry In October, 2021, the government announced an incentive to encourage sugar companies to divert excess sugar cane stock in producing ethanol, which can be blended with petrol and used as fuel in vehicles. Besides, this is also a good solution to address the problem of excess sugar production in the country. Stock prices of many sugar companies doubled in 2021. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sugar producing companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in last one month </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bannari Amman Sugars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">25% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">82% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shree Renuka Sugars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">22% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">153% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Uttam Sugar Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">21% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">82% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Hindustan Sugar </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">139% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Balrampur Chini Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">109% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Avadh Sugar &amp; Energy </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">113% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dhampur Sugar Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">81% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dwarikesh Sugar Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">130% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Triveni Engineering and Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">212% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dalmia Bharat Sugar &amp; Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">167% </td></tr></tbody><tbody></tbody></table>Government’s measures to boost ethanol production In an effort to reduce import of petroleum products, the government has been encouraging farmers to produce ethanol that can be blended with petrol and used as a fuel in vehicles. Also, the centre has advised auto makers to manufacture flex fuel vehicles that are capable of running on both ethanol-based fuel and petrol. Maruti Suzuki, Toyota, Honda, BMW and Mercedes have been told to make vehicles that can run on ethanol based fuel, said Union Minister for Road Transport and Highways Nitin Gadkari in an Agro-Vision event in Nagpur this week while encouraging farmers to grow more sugarcane plants. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div>The move is in line with the government’s target to reduce the carbon emissions by one billion tonnes by 2030. Analysts say sugar industry has a long way to go Sugar industry in India is expected to grow by 6-7% in the years 2021-2022 due to growth in exports of sugar and ethanol, said Manoj Dalmia, founder and director, Proficient equities. “Exports taking place from India will rise as Brazil is facing weather changes impacting crops. India is to register exports of around 4-6 million tonnes for (sugar 2022). Government plans 20% ethanol blending by 2025 in petrol, currently it is 10%. This measure will reduce the debt burden on farmers as a result sugar stocks are to grow,” said Dalmia. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/six-reasons-why-indias-central-bank-believes-cryptocurrencies-threaten-financial-stability/articleshow/88588170.cms">Six reasons why India’s central bank believes cryptocurrencies threaten financial stability</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbl-banks-stock-slumped-nearly-10-even-as-rbi-approves-interim-head-for-the-bank/articleshow/88584214.cms">RBL Bank slides back to its lowest in a year despite a new chief and RBI's assurances</a>

Sugar companies witness a sweet rally on ethanol excitement that may continue in 2022 as well

<ul><li>India plans to start using 20% <keyword id="440140" type="General" weightage="80" keywordseo="Ethanol-blended-petrol" source="Orion">ethanol blended petrol</keyword> from 2025.</li><li>Currently, most petrol pumps give 10% ethanol blended petrol.</li><li>Economists argue that ethanol production in the future will have to rely more on maize and less on sugarcane and rice. </li></ul> At present, when you go to fill petrol, the petrol you get is mixed with 10% ethanol and the government is looking to double this by 2025. Prime Minister Narendra Modi rolled out 20% ethanol-blended petrol in select gas stations in 11 States and Union Territories earlier this year as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports. First, how is ethanol made? Most of the fuel ethanol produced around the world is made by fermenting the sugar in the starches of grains such as corn, sorghum, and barley, and the sugar in sugar cane and sugar beets, as per the US Energy Information Administration. <keyword id="13884282" type="General" weightage="60" keywordseo="what-is-ethanol-blending" source="Orion">What is ethanol blending</keyword> and how does it help? <keyword id="146615" type="General" weightage="100" keywordseo="ethanol-blending" source="Orion">Ethanol blending</keyword> is nothing but blended motor fuel containing ethyl alcohol that is at least 99% pure and is derived from agricultural products, and blended exclusively with petrol. An ethanol blended petrol helps on two counts. One, ethanol is a biofuel and so it is good for the environment. Second, it helps India as a country to cut down on its crude oil import bills. Ethanol and the environment Grain-based ethanol cuts greenhouse gas emissions significantly by 44 to 52% compared to gasoline, according to the US Department of Energy's Argonne National Laboratory. A report by Renewable Fuels Association says that researchers from Harvard, MIT, and Tufts have concluded that today's corn ethanol offers an average GHG reduction of 46% versus gasoline. Emerging technologies promise to boost that reduction to near 70% in the next few years, according to USDA. So, what is the government’s plan? The government has said it plans to push up the current 10% ethanol blended petrol to 20% in the next two years across India. This work is happening in two phases. In the first phase, 15 cities will be covered and then it will be expanded throughout the country in the next two years. Consumer Affairs Minister Piyush Goyal has said that the government is confident of achieving its target by 2025. Is E-20 petrol available currently? E-20 (petrol blendend with 20% ethanol) was initially available in only 84 petrol pumps in the country. A media report says that it is currently available in close to 1,000 stations. It is noteworthy here that the price of ethanol blended petrol isn’t different for the consumer. Challenges being faced by the industry Currently, most of the ethanol being produced uses either sugarcane on rice as its raw material. Both these crops are water intensive. A month back, when rice prices shot up, The Indian ethanol manufacturers faced a tough time as rice supply was stopped to the industry. This has led to agricultural economists like Ashok Gulati to advocate relying on maize as a policy. Price hike demand accepted The government hiked ethanol rates a month back after the industry demanded a hike arguing without proper returns there cannot be additional investments to boost supply. Now, the purchase price of ethanol produced from rice has been increased by ₹4.75/litre to ₹60.29/litre and for ethanol produced from maize, price has been hiked by ₹6.01/litre to ₹62.36/litre. The reliance on sugar… The Niti Aayog estimates that India will require 1,400 crore litres of ethanol to achieve its target of 20% blending by 2025. This, in turn, means that there is a big jump required in the production of sugar. A report by the Hindu states that out of the 550 crore litres of ethanol that has been produced since November last year, 450 crore litres came from the sugar industry. What about falling sugar production and its impact? Erratic rainfall in the 2023 monsoon season means that sugar production in India will be hit. In fact, a report by Reuters says that India, the second biggest producer of sugar globally, is considering banning sugar exports for the first time in seven years to fight the deficit. Moreover, sugar prices in the country have jumped by more than 3% in a fortnight to their highest level in six years. Concerns about sugar production... The Indian Sugar Mills Association (ISMA) has forecasted a 3.3% production fall in the current sugar year to 31.7 mn tonnes. It is roughly estimated that the country consumes 27.5mn tonnes leaving only a surplus of approximately 4 mn tonnes, as per a Systematix Institutional Equities report. This will hit ethanol production and thus the push to shift to maize by the government. How have the <keyword id="97985" type="General" weightage="40" keywordseo="sugar-stocks" source="Orion">sugar stocks</keyword> fared? Sugar stocks have had a mixed bag performance for most of the past year. While Balrampur Chini is up 3.4% and Dalmia Bharat Sugar is up almost 10% year-to-date, Shree Renuka Sugars and Dwarikesh Sugar have slipped over 7%.

Explained: What is ethanol blending, impact on environment and challenges faced by India

It's not just Zomato — From Happiest Minds to CDSL, some of India's hottest stocks are melting too

<ul><li>At 7:45 am, the SGX Nifty was down 0.27%, indicating a tepid start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start lower on Thursday, led by negative cues from the global markets. At 7:45 am, the SGX Nifty was down 0.27%, indicating a tepid start for Nifty50. The<a href="https://www.businessinsider.in/stock-market/news/nasdaq-closes-at-record-high-as-investors-digest-fed-action-and-stimulus-talks/articleshow/79769421.cms"> US equities closed mixed on Wednesday</a> as investors mulled the Federal Reserve’s forecast, disappointing economic data, and progress toward passing new stimulus. The Dow Jones Industrial Average closed 0.15% lower, and the S&amp;P 500 was up 0.18%. These are the stocks to watch out for during the trading session today: Hero MotoCorp The two-wheeler major Hero MotoCorp said it would hike the two-wheeler prices with effect from January 1. The company cited a steady rise in commodity costs across the spectrum, including steel, aluminium, plastics, and precious metals as the rationale behind the price hike. RIL, Airtel, Vodafone-Idea and other telecom stocks RIL, Airtel, Vodafone-Idea and other telecom stocks will be in focus during the trade today as the union cabinet approved a proposal to auction spectrum worth 4 lakh crore in March 2021. A total of <a href="https://www.businessinsider.in/business/telecom/news/indian-government-to-auction-spectrum-worth-4-lakh-crore-in-march-2021/articleshow/79757930.cms">2,251.25 MHz of spectrum</a> will be auctioned across seven bands. Future Enterprises Future Enterprises on Wednesday reported a consolidated net loss of ₹320.56 crore for the second quarter ended September 2020, on account of lower revenue from operations. The company had posted a net profit of ₹21.78 crore in the corresponding quarter a year ago. Wipro IT services major Wipro has completed the acquisition of 83.4% equity stake in Chennai-based Encore Theme Technologies. In October, Wipro announced that it had signed a definitive agreement to acquire Encore Theme, a specialist in providing SaaS and Cloud solutions in financial services, for up to ₹95 crore. IndusInd Bank The Private lender IndusInd Bank said the market regulator SEBI had granted a one-month extension for its promoters to infuse residual capital in lieu of conversion of warrants, issued to them last year, worth over ₹2,695 crore into equity. Computer Age Management Services (CAMS) Computer Age Management Services (CAMS) informed stock-exchanges that it had been considered eligible for selection and a further grant of registration as a Central Record Keeping Agency under the National Pension Scheme (NPS) under the Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015. IRCTC The government has proposed to offer up to 16 lakh equity shares to the eligible employees of the company at a price of ₹1,377.55 per equity share. Employee OFS will open from December 18 till December 21. Lakshmi Vilas Bank The Lakshmi Vilas Bank (LVB), which was amalgamated with DBS Bank last month has decided to delist its equity shares with effect from December 18. Jubilant FoodWorks Jubilant FoodWorks forays into the Biryani segment with a new brand ‘Ekdum!’ as part of its portfolio expansion. ‘Ekdum!’ will offer a variety of biryanis from across India along with kebabs, curries, breads, desserts and beverages. Balrampur Chini Mills, Dhampur Sugar Mills, Triveni Engineering, Shree Renuka Sugars and others Balrampur Chini Mills, Dhampur Sugar Mills, Triveni Engineering, Shree Renuka Sugars and other sugar stocks will be in focus during the trade today as the cabinet approved ₹3,500 crore subsidy for sugar farmers and ₹6,000 per tonne subsidy for sugar exports to be given for 60 lakh tonnes of sugar exports. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/interview-home-recipes-that-are-set-for-a-7-million-ipo-mrs-bectors-food-is-no-cookie-cutter/articleshow/79721783.cms" data-type="tilCustomLink"> INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter</a> <a href="https://www.businessinsider.in/thelife/personalities/news/facebook-ceo-mark-zuckerberg-and-reliance-industries-mukesh-ambani-spoke-but-had-no-chemistry/articleshow/79739547.cms" data-type="tilCustomLink">Zuckerberg spoke to Ambani but there was no chemistry — even with a multi-million dollar partnership between them</a>

Top stocks to watch — Hero Moto, RIL, Bharti Airtel, Future Enterprises, Wipro, Jubilant FoodWorks, and others

New Delhi, Feb 13 () Shree Renuka Sugars Ltd, a Wilmar group company, on Thursday reported a consolidated net loss of Rs 208.6 crore in the quarter ended December. The company had posted a net profit of Rs 311.1 crore in the year-ago period. Total income dipped to Rs 1,003.9 crore in the third quarter of this fiscal from Rs 1,140 crore in the corresponding period of previous year. "As on December 31, 2019, the current liabilities of the group exceeds its current assets by Rs 3,311 crore. The group has incurred continuing losses in the previous year ended March 31, 2019, and in current nine months period ended December 31, 2019 before exceptional items. The group has negative net worth of Rs 569.9 crore as at December 31, 2019. The group management expects to generate operational cash-inflows in the next 12 months, which will support the group to meets its near future cash obligations," the company said in a regulatory filing. Shree Renuka Sugars Ltd (SRSL) is one of the largest sugar manufacturers and refiners in India. It is present across sugar, ethanol, co-generation, trading and engineering segments. SRSL is a subsidiary of Wilmar Sugar Holdings, Singapore (subsidiary of Wilmar International, Asia's leading agribusiness group). MJH RUJ

Renuka Sugars posts Rs 208.6 cr loss in Dec quarter

Both <keyword id="20204377" type="General" weightage="20" keywordseo="indices" source="keywords">indices</keyword>, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> opened the day in red. As of 9:30 am, Nifty was down by 0.05% trading at 24,420.30 points, while Sensex was down by 0.15% and was trading at 80,254.37 points as of 9:30 am. All broad market indices opened the day in the green, except for Nifty 50, 100, 200, 500, and midcap and smallcap 50 opened in red. India VIX was up by 1.17%. Amidst sectoral indices, Bank, auto, metal, financial services, PSU, and <keyword id="61519" type="General" weightage="20" keywordseo="Private-banks" source="Orion">private banks</keyword> opened the day in the red. Continuing its momentum from yesterday, <keyword id="6912" type="General" weightage="20" keywordseo="Maruti" source="Orion">Maruti</keyword> opened the day in green and was up by 1.66%. Grasim, Divis Labs, Eicher Motors, and Britannia were the top gainers in early trade this morning. On the other hand, Mahindra and Mahindra, JSW Steel, Axis Bank, Dr. Reddy, and Kotak Bank were among the leading laggards. As Mr. Aditya Gaggar, Director of Progressive Shares, notes, "A strong rally in the auto counters helped the index end on trade at another record level of 24,433 yesterday. The index has breached its previous high convincingly by forming a big green candle and opening the door for further rallying towards the 24,520–24,600 zone. At the same time, 24,340 will be considered strong immediate support. BankNifty oscillates in a well-maintained range of 52,260–52,720; a breakout on either side is a must (mostly on the higher side, considering the strong uptrend). The auto segment ended its consolidation of over 2 weeks with a strong breakout indicating the resumption of its uptrend". "Post the strong breakout, follow-up buying was witnessed in the <keyword id="20421583" type="General" weightage="20" keywordseo="FMCG-segment" source="keywords">FMCG segment</keyword> which boosted our confidence to remain bullish on the sector (ITC is on the verge of a major breakout). Sugar counters regained their momentum and some of them have already given a strong breakout (Andhra Sugar and Dalmia Sugar) and some are at the cusp of a major breakout (Balrampur Chini and Renuka Sugar). We continue to remain positive in the <keyword id="20350923" type="General" weightage="20" keywordseo="Pharma-space" source="keywords">pharma space</keyword>", he continued. Shrikant Chouhan, Head of Equity Research, Kotak Securities noted that among sectors, the auto index gained over 2% while intraday profit booking was witnessed in select IT, oil, and gas stocks. "Currently, 24,300/80,000 would act as a key support zone for trend-following traders. We believe, that as long as the market is trading above it, the bullish sentiment will likely continue. On the higher side, 24,500 -24,600/80,500-80,800 would be the immediate resistance zones for day traders", he said.

Stock Market Today: Maruti, Grasim, and Eicher Motors take lead in early trade

The downgrading of <keyword id="6355226" type="COUNTRY" weightage="100" keywordseo="Brazil">Brazil</keyword>’s sovereign rating by US agency <a href="http://www.businessinsider.in/searchresult.cms?query=Standard+%26+Poor">Standard &amp; Poor</a>'s to "junk" status might hit a dozen of Indian companies that have significant exposure to the Brazilian market. 
 
These companies might see their stocks come under pressure on the bourses due to the weakness in the <a href="http://www.businessinsider.in/searchresult.cms?query=Brazilian+economy">Brazilian economy</a>. 
 Moreover the US rating agency said mounting political turmoil and the difficulties faced by President <keyword id="440692" type="PERSON" weightage="100" keywordseo="Dilma-Rousseff">Dilma Rousseff</keyword>'s government in tackling growing debt was the main reason behind the downgrade. 
 The Indian companies, which have sizeable exposure to the Brazilian market, include United Phosphorous and <keyword id="6773472" type="COMPANY" weightage="60" keywordseo="Torrent-Pharma">Torrent Pharma</keyword>, whose revenue shares from this market go into double digits, besides Glenmark, KEC International, <keyword id="107782" type="CITY" weightage="60" keywordseo="Rallis-India">Rallis India</keyword>, Cadila, <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Motors">Tata Motors</a>, Havells India and <keyword id="6357150" type="CITY" weightage="100" keywordseo="TCS">TCS</keyword>. 
 There are also others like Lupin, <keyword id="44642" type="CITY" weightage="80" keywordseo="Sun-Pharma">Sun Pharma</keyword> (through Ranbaxy), <a href="http://www.businessinsider.in/searchresult.cms?query=Godrej">Godrej</a> Consumers, <keyword id="6359783" type="CITY" weightage="40" keywordseo="Bajaj-Auto">Bajaj Auto</keyword>, MM Forgings, <keyword id="73067" type="COMPANY" weightage="80" keywordseo="Praj-Industries">Praj Industries</keyword> (has a Petrobas order) and ONGC, which generate 2-3% of their total revenues from Brazil. 
 
Let’s see what happened after the US rating agency downgraded Brazil: Ø Stocks of companies with revenue exposure or investment plans in Brazil fell in Thursday's trade. Oil and Natural Gas Corp and <keyword id="6354248" type="CITY" weightage="40" keywordseo="Videocon">Videocon</keyword> Industries, which have heavy investments in Brazil's oil and gas sector, fell 2.36% and 0.7%, respectively. 
 
Ø Shree Renuka Sugars, which made acquisitions in Brazil recently, fell 1.6%. UPL plunged 4.5%. 
 
Ø Torrent Pharma dropped 3%, Glenmark Pharma fell 1.9%, while Cadila Healthcare was down half a per cent. 
 
Ø Lupin declined 2%, while Sun Pharma was down 0.3%. KEC International slipped 2.3%, while Rallis India was trading flat. Praj Industries and MM Forgings fell 2.6% each. 
 
In April 2008, Brazil was awarded an investment-grade rating by the US rating agency. At that time the country's economy was on rise. However, sliding commodity prices and austerity have created a recession. 
 
Earlier this week, economist said Brazil's <a href="http://www.businessinsider.in/searchresult.cms?query=Gross+Domestic+Product+">Gross Domestic Product</a> is expected to contract by 2.3% and the nation will have to borrow to cover all its interest payments (if interest payments are included, the total deficit this year is projected to be 8-9%). 
 
The faster-than-anticipated downgrade of the nation from investment grade will likely rock Brazilian financial markets and increase borrowing costs for the government and Brazilian companies. 
 
(Image: Indiatimes)

You Searched For "Renuka Sugars" and got 11 results

Sugar stocks soar as govt permits use of sugar in ethanol production; Triveni Engineering, Dhampur Sugar rally over 7%

PTI

Sugar stocks slip after govt raises fair price to ₹340 per quintal

PTI

Renuka Sugars loss widens to Rs 205.6 cr in Sep 2023 quarter

PTI

Shree Renuka, Balrampur Chini, Dalmia Sugar shares plunge on export curb reports

Rounak Jain

Sugar companies witness a sweet rally on ethanol excitement that may continue in 2022 as well

Bhakti Makwana

Explained: What is ethanol blending, impact on environment and challenges faced by India

Abhishek Jha

It's not just Zomato — From Happiest Minds to CDSL, some of India's hottest stocks are melting too

Bhakti Makwana

Top stocks to watch — Hero Moto, RIL, Bharti Airtel, Future Enterprises, Wipro, Jubilant FoodWorks, and others

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Renuka Sugars posts Rs 208.6 cr loss in Dec quarter

PTI

Stock Market Today: Maruti, Grasim, and Eicher Motors take lead in early trade

Ira Alok Puranik

Why TCS and Tata Motors stand to lose from Brazil’s rating downgrade to ‘Junk’ status

BI India Bureau

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