Shares of Maruti Suzuki rallied as much as 4% to their day's high of Rs 13,959 on the BSE on Monday after Union Minister for Road Transport and Highways Nitin Gadkari approved legal recognition for 100% ethanol blend fuel (E100), a move that could accelerate the adoption of flex-fuel vehicles and reduce India's dependence on imported fossil fuels.
Speaking about India's reliance on fuel imports, Gadkari said ethanol would emerge as a "viable alternative to petrol" and help lower the country's import burden, which currently stands at around Rs 22 lakh crore.
