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Posted by :
abhaytiw
States told to bridge cane FRP, SMP gap
Our Bureau NEW DELHI
THE fair and remunerative price (FRP) fixed for the 2009-10 sugar year by the government replacing the earlier statutory minimum price (SMP) will function as the floor price for sugarcane payable to the farmer, the Centre has indicated. But it stopped short of stating this, making it legally impossible for sugarcane farmers to demand a higher price as a matter of right if the mills failed to pay more.
“The sugarcane farmer is legally guaranteed a price of Rs 129.84 per quintal of sugarcane. The sugar mills are free to offer any price above the FRP as deemed fit by them,”a press release from the food ministry said here on Friday.
The statement also clarified that the state governments would indeed foot the bill for the difference in sugarcane support payments announced by them and the FRP announced by the Centre.
While suggesting that the FRP would function as the floor price for sugarcane, Friday’s statement simultaneously reiterates that the farmer will also have to forego a mandated right on mills’ profits. It insists that since the FRP of Rs 129.81 per quintal for sugarcane includes a margin of 45% on account of profit and risk to the farmers over the cost of production of cane, including its cost of transportation, he no longer had the right to claim a share of the profits made by sugar mills as was earlier the case during the SMP regime.
The press statement was issued with the categoric purpose of clearing the confusion triggered off by food minister Sharad Pawar’s statement on the FRP issue on Wednesday and who would foot the bill for the difference between the sugarcane support price announced by the state governments and the FRP.
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I want to know that bajaj hindusthan is worth entering at current levels?????...
udyan cnbctv18 show
Posted by : abhaytiwtoday only suresh mahadevan of UBS giving right picture of economy and market otherwise it is horror show,due to this type of show retail investor never buy a good share at right price ie whenmarket at 8800than they are talking about 6000level very funny...
Bajaj Hind - Sher akhir Sher hi rahega
Posted by : GuestThe stock of Bajaj Hindustan, after rolling over a Roller-Coaster ride, along with the faling world markets, today managed to close above Rs 200 level. This is where this stock had very strong support. After the Balrampur Chini story has diminished, it may again soar to surpass its earlier high of Rs 245 level, seen just 2 weeks back. This is simply because the fundamentals of sugar industry remains to be stronger than before. It is an essential commodity that nobody can do without buying. That means, the demand is only going to be strong in future, strengthened by its scarcity. That`s why the sugar prices have just doubled in the last 1 year. Bajaj Hindusthan management had taken one more wise decision, by importing Lacs of tonnes of raw sugar. The ban by UP govt now, appears to benefit this co, because the company has already imported the quantity, giving an edge over its peers. Yet another decision of the UP govt is by increasing the rate at which the co will sell its bagasse based Captive power, which will accumulate huge revenue by 30% higher rate, without any expenditure. Bajaj Hindusthan is the country`s largest sugar producing company and the 4th largest in the world. Its PAT for the period ending Dec, 2009 may witness a 400% jump in net profits. (Just compare the profits and turnanround posted by smaller companies). Any dip in its share price, though it will be rare hereinafter, will be a strong buying opportunity to enter this stock, to reap sweet profits. ...
BSE Announcements on Bajaj Hind
Posted by : MMB MessengerWith reference to the news item appearing in a lading financial daily titled "Bajaj Hind may buy Balrampur", Bajaj Hindusthan Ltd has clarified to BSE that, till date, the Board of Directors of the Company has not considered and / or taken any decision in regard to the matter relating to acquisition of stake in Balrampur Chini Mills Ltd. from its existing promoters, as reported....
NSE Announcements on Bajaj Hind
Posted by : MMB MessengerNews Verification : The media had reports on October 31, 2009 that Bajaj Hindusthan Ltd may buy 36.67% stake from the promoters of Balrampur Chini Mills Ltd. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Bajaj Hindusthan Ltd has vide its letter inter-alia stated," We would like to inform that, till date, the Board of Directors of our Company has not considered and/or taken any decision in regard to the matter relating to acquistion of stake in Balrampur Chini Mills Limited from its existing promoters, as reported."...
A good news for sugar industries
Posted by :
RITGUPUSA
Govt cuts fair price for cane : As per economic times -
NEW DELHI: The government has watered down the method of calculating the fair and remunerative price (FRP) for sugarcane, saving the sugar industry
a substantial amount by way of payment to farmers.
The FRP for sugarcane was last week pegged at only 50% over the cost of production against 56-60% proposed in a cabinet note circulated early October. This is likely to save the Rs 60,000 crore industry nearly Rs 2,000 crore in payment to farmers for sugarcane for the 2009-10 sugar year (October-September).
Better still for sugar millers is this: even though the FRP has been pegged at cost of production for cane plus 50% for 2009-10, the percentage itself could vary each year, based on where sugarcane output was in glut or shortfall (sugar prices would go up) accordingly, higher/lower input costs etc. A fixed percentage level could mean that millers would have to pay high sugarcane support even in cane glut years, defying all market logic.
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I CANT UNDERSTAND TOUGHT BEHIND NEWS
Posted by : Guest
Hi ,
The lower target is Rs186 . From there it will pick the upper movement towards Rs230 . Good luck.
Thanks & regards,
karun...
I CANT UNDERSTAND TOUGHT BEHIND NEWS
Posted by :
bathulavbVivek wants to sell his company Balarampur at a premium price. So he is showing extreamly rosy picture. If sugar industry is that much good , why is he selling his company....
level to watch
Posted by : abhaytiw
15831 first support
15361 s2
14954 s3 this level from after electoin support 13504 to 17322 ...
renuka in better place to control than bajajhind
Posted by : skantmittalwill anyone give the itraday target of bajaj hidusthan for today... i hav bought 400 shares of baj@212.50.....
renuka in better place to control than bajajhind
Posted by : abhaytiwnobody talking about renuka which want to buy sugar company in brazil why not in UP ...
BAJAJ HIND TO BUY BALRAMPUR CHINI STAKE? IS THAT TRUE
Posted by : scorpio76
BAJAJ HIND TO BUY BALRAMPUR CHINI STAKE? IS THAT TRUE?
BALRAMPUR CHINI MIGHT TOUCH 175-180 RS IF THE DEAL IS ANNOUNCED-AS PER CNBC.
THIS NEWS HAS NOT BEEN CONFIRMED YET............
jupiter sold whole 1.7%
Posted by : abhaytiw
29-Oct-2009 Bajaj Hind (BSE) Jupiter Enterprises Ltd SELL 1472013 209.75
29-Oct-2009 Bajaj Hind (NSE) Jupiter Enterprises Ltd SELL 1480160 209.20
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