The Indian government is considering imposing a 25% duty on the export of molasses due to an expected decline in sugar production. The move aims to increase the availability of molasses for domestic distilleries, helping them meet the government’s ethanol blending target. India experienced a dry August, causing damage to the sugarcane crop in key cane-producing states.
Concurrent Gainers: 7 stocks that gained for 5 days in a row
In the five trading sessions prior to March 7, the Sensex rose by around 1.5%, or 1,134 points, closing at 74,333. The market ended on
March 8, 2025