Balrampur Chini Intraday Buy Call

Submitted by Harish More on Tue, 02/19/2008 - 07:33

Balrampur Chini stock can be purchased by day traders in today’s trading session around Rs 96 with a stop loss of Rs 94 for achieving an intraday target of Rs.101.

If the stock markets remain on positive track, the next intraday target for the day is above Rs 104. The stock has down support of Rs 92.

The company’s shares ended positively at Rs 97.60 on Monday on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 127.9 and a low of Rs 49.9.

According to market analysts, the stock has much potential to climb to the target price as the company has good growth outlooks considering its projects under implementation and influential future plans.

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.

Some other stocks from the same sector that looks good for short-term trading includes Bajaj Hindustan, Shree Renuka and Triveni Engg.


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