India Considers Ethanol and Sugar Price Increase Amidst Supply Concerns

India is contemplating an adjustment in the domestic pricing mechanisms for ethanol and sugar, as disclosed by the nation’s Food Minister on Thursday. This strategy aims to enhance domestic supply levels. Sources familiar with the matter, according to a recent Reuters report, confirmed the government’s intention to extend a ban on sugar exports and elevate the procurement price that oil companies offer to sugar mills for ethanol.

In a related development, the Securities and Exchange Board of India (SEBI) announced a reduction in the listing timeline for debt securities and Non-Convertible Redeemable Preference Shares (NCRPS) to T+3 working days, from the previous T+6 days. This alteration is expected to expedite the process for issuers to access funds more swiftly.

In the technology sector, Accenture has reported a notable increase in new bookings, indicating a rising interest and commitment towards spending in IT services. The company’s fourth-quarter bookings reached $20.1 billion, an increase from $17.25 billion in the third quarter, with $1 billion attributed to generative AI-related contracts, as reported by the company.

Additionally, Accenture’s board of directors has authorized an increase in its quarterly dividend to $1.48 per share, along with an approval for an additional $4.0 billion in share repurchase authority. The IT consulting giant forecasts revenue growth between 3 to 6 percent for the fiscal year 2025 in local currency terms.

Elsewhere, India’s steel industry is lobbying the government to double the import tariffs on steel products in response to an influx of cheaper steel from China. This is part of efforts to reverse the country’s trend as a net importer of crude steel.

Among developments in public offerings, the Grey Market Premium (GMP) for Forge Auto International‘s SME Initial Public Offering (IPO) indicates an expected listing price of Rs 148 per share, suggesting a potential 37.04% gain upon listing, while Thinking Hats Entertainment Solutions marks a significant IPO subscription interest with a price band set between Rs 42 and Rs 44 per share, aiming to raise Rs 15.09 crore through fresh share issuance.