LKP Shares neutral on Balrampur Chini

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LKP Shares has maintained its neutral rating on Balrampur Chini Mills in its December 2, 2008 research report. "BCML posted a 7% growth in consolidated revenues during FY'08 (YE-Sept) at Rs 15 billion with a consolidated net profit of Rs 783 million (Loss of Rs 473 million). On the positive side if the court ruling this week comes in favour of the UP based sugar mills we could see a rally in BCML to levels of Rs 40 in the near term which could provide an opportunity for investors to book profits. All in All we maintain a NEUTRAL view on the stock," says LKP Shares' research report.

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