Balrampur Chini, other sugar stocks slide up to 6% as govt halts diversion to ethanol

Indian sugar stocks dropped in early trading following the government's directive to cease sugar diversion for ethanol production. The decision impacts major sugar companies like Balrampur Chini Mills and Bajaj Hindusthan Sugar, which experienced a decline between 2% and 6%. This directive aims to enhance domestic sugar availability amidst rising prices. The government's action follows concerns about potential production shortfalls due to insufficient rainfall.