Buy Balrampur Chini With Target Of Rs 95
Technical analyst Jatinder Sharma has maintained 'buy' rating on Balrampur Chini Limited stock with a target of Rs 95.
According to analyst, the stock can be purchased with a stop loss of Rs 88.
The stock of the company, on December 28, closed at Rs 88.35 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 145.90 and a low of Rs 67.10 on BSE.
Current EPS & P/E ratio stood at 1.42 and 63.43 respectively.
With sugar production likely to surpass its twelve-monthly demand, India, the world's top sugar customer has lastly decided to open its doors after a break of 2 years.
The administration had stalled exports of sweetener owing to short supply of the sugar in India.
2008 and 2009 witnessed the country importing sugar because of drought during the last year that registered a decline in local cane fabrication and a fall in the region under cane farming.
Sugar player Balrampur Chini's Vijay Saraogi projects export allowance in portions till production is apparent.
He said that existing domestic realizations in the state of Uttar Pradesh stood at Rs 29.25/kg.