Balrampur Chini Mills

Balrampur Chini Mills, Dwarikesh Sugar Industries, Ugar Sugar Works, Rana Sugars, Dhampur Sugar Mills and Shree Renuka Sugar overcome their significant peaks, with volumes exceeding daily 3-month high

India has a cushion to export an additional 1 million tonnes of the sweetener if the domestic output reaches an estimated 33.6 million tonnes this year

Rajshree Sugars, Ugar Sugar Works, Simbhaoli Sugars, Sakthi Sugars and Bajaj Hindustan have zoomed in the range of 10 per cent to 19 per cent in intra-day trades so far.

The board of directors of Balrampur Chini on November 9 had approved Rs 145.44 crore share buyback at Rs 360 per share through the open market route.

ICRA expects operating margins for sugar firms to remain in the range of 13.0 - 13.5 per cen in FY23 (in line with FY22 levels) supported by elevated sugar realizations as well as ethanol realizations

Shree Renuka, Dwarikesh, Triveni Engineering, Uttam Sugar, Dhampur Sugar and Dalmia Bharat Sugar are down in the range of 2 per cent to 7 per cent on the BSE.

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.

Rallying energy markets, tight sugar availability, COVID lockdowns in China and logistical issues from the fallout of Russia's military invasion of Ukraine have led to uptick in spot sugar prices.

Analysts believe that the government's curb on 10 metric ton sugar exports would not cause a major impact as their expectation was lower than the limit for this year.

Select sugar stocks like Balrampur Chini, Dwarikesh Sugar and Renuka had jumped up to 6-fold post the Covid-19 decline; However, off late the stocks have corrected sharply post export limitations.

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Total income increased to Rs 1,291.37 crore in the fourth quarter of the last fiscal. It stood at Rs 1,027.24 crore in the corresponding period of the previous year

The derivative analyst from HDFC Securities recommends buying Balrampur Chini April 520 CALL and simultaneously selling 520 CALL.

Sugar stocks rallied up to 11 per cent on the BSE in Friday's intra-day trade on strong outlook and foreign institutional investors (FIIs) interest.

With Nickel, Gold and wheat also hitting multi-year highs like Crude Oil, these five commodity related shares are likely to witness strong gains, indicate charts.

Major sugar stocks are ready to claim new bullish territory

Stocks like Asian Paints, Astral, Balrampur Chini, Birlasoft, Carborundum Universal, eClerx, Infosys, Max Healthcare, Tube Investments and Torrent Pharma and others are trading at life-time highs

According to CRISIL, sugar mills are expected to see both revenue and profitability improve in the 2022 season (SS 2022; October 2021 to September 2022).

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).

ICICI Securities believe domestic as well as global sugar prices would remain firm at least for next one year