Balrampur Chini Mills in the top gainer on the BSE since morning, going up over 12% to Rs.87.25. Almost all the sugar stocks are up in the green. Shree Renuka, Mawana Sugar, Triveni Eng, Gayatri Sugar, Empee Sugar are all in the positive.

The much anticipated Cabinet meeting happened and a decision was taken to hike ethanol prices by 25%. It  also approved new procurement policy to ensure minimum support price to farmers.

This was a move awaited by the industry and the price hike will make ethnol production viable for the sugar mills as the realization from this would be almost at par with that of sugar.