Sumit BilgaiyanEquity99
Balrampur Chini Mills, India's second largest sugar producing company, is engaged in the ancillary businesses of ethanol manufacture and co-generation. It has factories in Uttar Pradesh with crushing capacity of 76,500 tonnes per day, distilleries with a capacity of 360 kilolitres per day and co-generation capacity of 163.2 megawatts.
The sugar sector has given a negative return in the last one year, but now risk to reward ratio is favorable in selective sugar stocks. It is available 59 percent lower against its 52-week high price. The company has posted turn-around numbers on QoQ basis. Charts indicate that the rally can extend in coming days. We are recommending a buy for the short term.
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