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Buy Balrampur Chini target of Rs 515: ICICI Direct

ICICI Direct is bullish on Balrampur Chini has recommended buy rating on the stock with a target price of Rs 515 in its research report dated August 05, 2022.

August 08, 2022 / 09:52 PM IST
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ICICI Direct's research report on Balrampur Chini


Balrampur Chini (BCML) is the second largest sugar company with sugar crushing capacity of 77500 TCD, distillery capacity of 560 KLD and cogeneration capacity of 175.7 MW. It is expected to complete its distillery capex of 490 KLD, modernisation, de-bottlenecking of its sugarcane crushing capacity by December 2022, taking its total distillery capacity to 1050 KLD (35 crore litre). • The company is working on replacing the existing Co-0238 sugarcane variety in its catchment area with newer varieties, which would improve sugarcane yields & recovery.



Outlook


We continue to maintain our BUY rating on the stock. We value the stock at Rs 515, valuing the business at 12x FY24 PE.

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For all recommendations report, click here


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Balrampur Chini - 080822 - ic

Broker Research
first published: Aug 8, 2022 09:52 pm
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