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MARKET EYE-Praj Industries, sugar cos rise on widened ethanol blending
* Shares in biofuels technology company Praj Industries Ltd and sugar firms Bajaj Hindusthan Ltd and Shree Renuka Sugar rallied after the government said it wanted to extend ethanol blending with petrol to all states in the country from present 13 states. * The decision is expected to improve demand for ethanol, which sugar factories produce as a bi-product. * The federal ministry of Petroleum and Natural Gas will issue a notification to the oil marketing companies to implement ethanol blending across all states effective Dec. 1 2012, a government statement said. * Shares in Praj industries rose 10.14 percent. Bajaj Hindustan gained 1.13 percent while Shree Renuka Sugars rose 1 percent. (manoj.dharra@thomsonreuters.com/kaustubh.kulkarnie@thomsonreut ers.com)
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