Balrampur Chini

According to the technical analyst from Anand Rathi, Balrampur Chini can rally to Rs 435, while PNB is likely to hit Rs 68.

Stocks to Watch Today: Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, IRCTC and PNB are the seven stocks in F&O ban period on Monday.

Balrampur Chini Mills Ltd on Thursday reported 84 per cent fall in consolidated net profit at Rs 12.38 crore for the quarter ended June. Its net profit stood at Rs 76.92 crore in the year-ago period. Total income fell to Rs 1,094.58 crore in the quarter from Rs 1,145.68 crore in the corresponding period of the previous year, according to a regulatory filing. Total expenses rose to Rs 1,077.72 crore during April-June 2022-23 from Rs 1,048.83 crore in the year-ago period. Balrampur Chini Mills is one of the leading sugar manufacturers in the country.

After the massive slaughtering post April 2022, sugar stocks consolidated in June and are now witnessing a pullback rally.

Wiith a favourable mix of ethanol towards B-heavy/ juice (feedstock) coupled with higher sugar realisations; operating margins of sugar companies are expected to improve.

Unit has long-term PPA in place with Gujarat Urja Vikas Nigam Limited for a period of 25 years

The company has received total orders of 157,100 kilo litres for supplying ethanol to both public sector and private sector oil marketing companies (OMCs).

he move expected to boost participation as investors and institutions can hedge underlying positions in the stock.

According to ICRA, sugar companies are expected to strengthen in FY2022 with expansion in operating profits in addition to sugar inventory reduction and hence curtailment of working capital debt.

ICICI Securities believes this would encourage sugar companies to further add sugarcane juice and grain-based ethanol capacities

Balrampur Chini Mills hit a new high of Rs 273 on Thursday, rallying 9 per cent on the BSE in intra-day trade

The deciding factor in days to come has to be the financial space

Ethanol is expected to be a key driver for the sugar industry, going ahead

Since a significant quantity of sugarcane juice and B-molasses will be diverted into ethanol production, a proportionate quantity of sugar production will get reduced, ISMA said

EID Parry's stock has zoomed 63 per cent in the past month

The stock of the sweetener company was trading at its highest level since November 2017. In the past six weeks, it has soared 58 per cent from a level of Rs 110.

Buyback would be through a tender offer at a price of Rs 175 per share payable in cash