Sugar stocks rally 20% as government raises ethanol price
Shares of sugar companies gained up to 20% on Friday after the government raised the price of ethanol produced directly from sugarcane juice for blending in petrol by 25%. The move will help sugar mills, saddled with excess supplies, divert cane juice for ethanol production. The mills are expected to settle cane farmers' dues, which stand at over â¹13,000 crore. 