Sugar stocks rallied in trade after Union Minister Nitin Gadkari indicated that ethanol prices are likely to decline further, alongside efforts to boost biofuel adoption and address GST-related challenges. His broader push toward alternative fuels, including a shift to isobutanol as a potential diesel substitute, lifted sentiment across the sugar pack, with most stocks hitting strong intraday highs.
Avadh Sugar led the gains among key players, surging as much as 4.99 per cent to hit an intraday high of Rs 492.30. Shree Renuka Sugars also saw notable momentum, climbing up to 3.40 per cent during the session to Rs 22.22, while Bajaj Hindusthan advanced 3.14 per cent to Rs 19.06.
Gadkari reconvened the government’s commitment to alternative fuels and self-reliance in the automotive sector, highlighting ethanol as the key substance of India’s future strategy. Speaking during an event in Delhi, he pointed out the evolving nature of the automobile industry. Gadkari also stressed the need to reduce dependence on fuel imports and strengthen domestic energy sources.
The minister further stated that India’s auto industry is witnessing healthy growth, expanding by nearly 20 per cent annually. According to the minister, the country is on course to become the largest automobile industry in the world, driven by rising demand, innovation, and supportive government policies.
The minister noted the ongoing efforts to develop ethanol from alternative feedstocks such as corn and broken rice. These initiatives are aimed at creating a sustainable supply chain for biofuels while also providing additional income opportunities for farmers. Alongside ethanol, Gadkari pointed to advancements in bio-bitumen, a renewable alternative used in road construction, as part of broader efforts to promote green and sustainable technologies.
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