India's ethanol blending in petrol to nearly double by 2025-Elara Capital

DWARIKESH SUGAR INDUSTRIES

27/12/2022 07:30

** Analysts at Elara Securities expect a 17-18% ethanol
blending in petrol by 2025 vs 9.6% in FY22
    ** Brokerage prefers sugar companies over grains-based ones
as profitability of grain-based ethanol manufacturers is under
pressure due to higher raw materials and fuel costs
    ** Shares of Dhampur Sugar Mills  DAMS.NS , Uttam Sugar
Mills  UTSM.NS , Shree Renuka Sugars  SRES.NS , Ponni Sugars
(Erode)  PONS.NS , Mawana Sugars  MAWS.NS , Dwarikesh Sugar
Industries  DWAR.NS , Ugar Sugar Works  UGSW.NS , Dalmia Bharath
Sugar and Industries  DLMI.NS , Rana Sugars  RNSG.NS , Balrampur
Chini Mills  BACH.NS  up between 2.3%-9.1% 
    ** Elara Securities prefers Balrampur Chini and Dwarikesh
Sugar
    ** Sugar stocks have gained in the second half of Dec after
govt extended tax cuts on ethanol blending to private refiners
    ** India, world's No.3 oil importer and consumer, has sped
up efforts to double ethanol blending with gasoline to 20% by
2025/26
 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))