SP Tulsian`s view on Balrampur Chini

SP Tulsian, sptulsian.com shares his view on Balrampur Chini. He says a combination of flat results and downgrade is dragging down the stock.

Tulsian told CNBC-TV18, “Balrampur Chini, if one sees the results, the expected results for March quarter I don’t think that will really be great because all the UP sugar mills have been struggling to that. Even in case of the export benefits nothing has really accrue to the company because that matter has just settled at the pro rata allocations based on the production will be given. Now from hereon atleast they can make the slight gain of about Rs 2 a kg once they sell their export entitlement and all that. So flat results and downgrade because of the results combination of both is dragging down the stock.”
He further added, “BHEL, I am bullish from these levels; I don’t honestly see any reason for the stock to fall to such a level. I have been maintaining a view that it cannot really fall below Rs 260-265 where it makes a compelling buy and once we see it crossing Rs 300-310 then only the profit booking can come. But again this has been correcting which I am honesty finding it difficult to accept purely on the fundamentals.”