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Sugar stocks surged up to 8% following Food Minister Pralhad Joshi's announcement that the government is considering increasing ethanol prices and raising the minimum selling price of sugar. The rally was led by Balrampur Chini, which rose 8%. The minister also mentioned that a decision on sugar exports would depend on production estimates for the upcoming season.
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Shares of metal companies like National Aluminium and SAIL surged following China's 50 basis point cut in reserve requirements, aimed at boosting economic growth amid ongoing deflationary pressures.
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Authum Investment & Infrastructure and Mahi Madhusudan Kela will acquire a 46.85% stake in Prataap Snacks for Rs 846.60 crore. The deal includes an open offer to acquire an additional 26% stake from the market. Prataap Snacks, known for its Yellow Diamond brand, will remain listed post-acquisition.
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