Buy Balrampur Chini At Rs 77

Buy Balrampur Chini At Rs 77Technical Analyst Siddharth Bhamre of Angel Broking has maintained 'buy' rating on Balrampur Chini stock with an intraday target of Rs 86.

According to Mr. Bhamre, the investors can buy the stock around Rs 77-78.

The stock of the company, on May 31, closed at Rs 19.90 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 167.30 and a low of Rs 67.30 on BSE. Current EPS & P/E ratio stood at 8.24 and 9.80 respectively.

The allied business of Balrampur Chini Mills Ltd (BCML), one of the biggest integrated sugar making companies in the country, comprised manufacturing and sale of Ethyl Alcohol & Ethanol, generation and selling of power and manufacturing and selling of organic manure.

The company runs nine sugar mills situated in Eastern U. P. with an aggregate crushing capacity of 73,500 tons daily.

BCML has purchased the management of Indo Gulf Industries Ltd (IGIL), which has since become the company's arm. IGIL's sugar cane crushing capacity stood at 3000 TCD and it is situated at Maizapur.

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