Tuesday, 15 September 2009

Buy Balrampur Chini, target of Rs 148: Sharekhan

Sharekhan has maintained its buy rating on Balrampur Chini Mills with a target price of Rs 148 in its September 14, 2009 research report.

"We believe that the two-year (FY2010 and FY2011) scenario for sugar companies in India is strong with the domestic and global sugar industries experiencing a deficit. Thus, sugar prices are likely to remain high leading to hefty profits for these companies. The key risk to sugar prices though is the continuous intervention by the government. We maintain our 'Buy' recommendation on the stock with a price target of Rs 148," says Sharekhan's research report.

Source: Moneycontrol

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