Buy Balrampur Chini for target of Rs 81: Mohindar

Mohindar told CNBC-TV18, "Sugar definitely has been moving quite a bit and the stock I would like to buy into at this point would be Balrampur Chini. Couple of things that one observed on the stock, if we look at volumes that was the first thing which hit the eye, the months of July and August have clocked a significantly high volumes that is even if we compare to the last 18 months."

He further added, "I don't think we have a month which has the kind of volumes that July and August of 2012 has exhibited. So, that was a very big pointer. From a trend perspective it looks like these stocks are going to go up and Balrampur Chini Mills from the current levels should give about 25-30% upside. It kind of fits into that aggressive portfolio bracket but I think the stock could surprise us even from the current levels. So, at this point we would recommend buying a stop at Rs 62 and a price target of about Rs 81."