Balrampur Chini has target of Rs 62: Thacker

Balrampur Chini Mills has target of Rs 62, says Mitesh Thacker, Technical Analyst.

Thacker told CNBC-TV18, "I would have like to wait for Balrampur Chini to break below Rs 71 but with SGX showing 80 point cut it is likely that the stock might start little below those levels, so the stock price has been in downtrend and once it breaks Rs 71, which was the earlier swing low, you could see selling pressure accelerate over there. I think Rs 62 would be a good price target and Rs 76 would be a good stop loss for the stock." The company's trailing 12-month (TTM) EPS was at Rs 1.42 per share. (Sep, 2010). The stock's price-to-earnings (P/E) ratio was 49.44. The latest book value of the company is Rs 46.37 per share. At current value, the price-to-book value of the company was 1.51. The dividend yield of the company was 4.27%.