MARKET EYE-Praj Industries, sugar cos rise on widened ethanol blending

Fri Nov 23, 2012 12:47pm IST

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* 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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