India's Pasupati Acrylon hits record high on ethanol capacity expansion approval
BUZZ-India's Pasupati Acrylon hits record high on ethanol capacity expansion approval ** Acrylic fiber, cast polypropylene films maker Pasupati Acrylon's shares PASA.NS rise as much as 13.1% to a record high of 84.77 rupees apiece
** Rise after PASA gets approval from the Uttar Pradesh state government to increase the manufacturing capacity of the ethanol plant in Thakurdwara to 240 kiloliters a day from 180 KL
** Ethanol capacity is crucial for PASA as it is the third largest business segment for the company, as it diversifies beyond acrylic fiber and CPP films into fuel-grade ethanol production for the country's blending program
** PASA's Uttar Pradesh plant began commercial production in 2025
** Approval allows PASA to boost its ethanol output by one-third, likely aiding revenue growth
** PASA shares up 57.3% in 2026 so far, according to exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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