Balrampur Chini Buy Call
Technical Analyst, Rajat K Bose is of the view that investors can purchase Balrampur Chini Mills to achieve a medium-term target of Rs 127.
Bose told, “Balrampur Chini Mills is a buy. It’s a medium-term pick it’s not just a technical pick. The things are actually changing for sugar. The stock has a medium-term target of Rs 127, looks highly achievable. A stop loss should be placed below Rs 67. I personally hold this stock in my portfolio and I have recommended to all my clients also.”
Today, the stock opened at Rs 92 as against its previous close of Rs 90.45. The stock has seen a 52-week high of Rs 127.9 and a low of Rs 49.9. Presently (1:10 pm), the stock is trading at Rs 94, up 3.92%.
On Jan 31, Balrampur Chini Mills allotted 38,300 equity shares of Re 1 each at a price of Rs 74.60 a share to the eligible employees under the Employees Stock Option Scheme (ESOS).
The company is one of the largest integrated sugar manufacturing companies in India. The allied businesses of the company consist of manufacturing and marketing of alcohol, generation of power and manufacturing of organic manure.