Stock market analysts have maintained ‘buy’ rating on Balrampur Chini Mills stock with an intraday target of Rs 96.

According to them, interested traders can purchase the stock above Rs 92 with a strict stop loss of Rs 90. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 98.

Shares of the company, on Monday (Sep 08), closed at Rs 92.05 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 4177448. Current EPS & P/E ratio stood at 1.91 and 49.29 respectively. The share price has seen a 52-week high of Rs 127.90 and a low of Rs 58.50 on BSE.

The stock has good potential and it can still exhibit superb surge. It will achieve the target price on the back of its healthy growth plans and well-built operating capabilities.

For the quarter (Q3) ended June 2008, Balrampur Chini Mills Ltd posted a net profit of Rs 168.50 million, as against a loss of Rs 473.10 million in the same quarter, last year.

The company recorded earnings of Rs 0.66 per share in the quarter compared with a loss of Rs 1.91 a share in last year period.

Net sales fell marginally 13.40% to Rs 3,163 million, while total income for the quarter fell 13.75% to Rs 3,169 million, when compared with the prior year period.

Sugar production for Q3 FY2008 was significantly lower at 8.07 lakh quintals.

In Q3 FY2008, distillery segment produced 23,807 kl. The overall power production in Q3 improved by 7.6% to 1,990 lakh units.

Net sales fell marginally 13.40% to Rs 3,163 million, while total income for the quarter fell 13.75% to Rs 3,169 million, when compared with the prior year period.

Sugar production for Q3 FY2008 was significantly lower at 8.07 lakh quintals.

In Q3 FY2008, distillery segment produced 23,807 kl. The overall power production in Q3 improved by 7.6% to 1,990 lakh units.

Balrampur Chini Mills, on June 10, allotted 10,850 equity shares of Rs 1.00 each at a price of Rs 74.60 a share (including a premium of Rs 73.60 a share) to the eligible employees under the employee stock option scheme (ESOS).

Balrampur Chini Mills is one of the biggest integrated sugar making companies in India. The linked business groups of the company includes manufacturing and marketing of alcohol, generation of power and manufacturing of organic manure.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes Shree Renuka, Bajaj Hind and Triveni Engg.