Sugar stocks rallied sharply on Thursday after the Finance Ministry notified a cut in excise duty on ethanol-blended petrol, boosting optimism surrounding India's ethanol blending programme.
Shares of Dwarikesh Sugar, Dhampur Sugar, Mawana Sugars, Balrampur Chini, and Dalmia Bharat Sugar rose 3–4%, as investors cheered the policy move that is expected to support ethanol demand and improve earnings visibility for sugar manufacturers.