Buy Balrampur Chini Mills, target price Rs 350: Yes Securities

Yes Securities has buy call on Balrampur Chini Mills with a target price of Rs 350. The current market price of Balrampur Chini Mills is Rs 329.4.

Time period given by analyst is Intra Day when Balrampur Chini Mills Ltd. price can reach defined target.

Balrampur Chini Mills Ltd., incorporated in the year 1975, is a Mid Cap company (having a market cap of Rs 6743.52 Crore) operating in Sugar sector.


Balrampur Chini Mills Ltd. key Products/Revenue Segments include Sugar, Alcohol (Industrial), Export Incentives, Power, Bagasse, Others, Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1218.23 Crore, up 6.33 % from last quarter Total Income of Rs 1145.68 Crore and down -5.88 % from last year same quarter Total Income of Rs 1294.37 Crore. Company reported net profit after tax of Rs 81.11 Crore in latest quarter.

Investment Rationale
Defending October lows, the stock rebounded forming a bullish candle. Positive follow-up action above Rs 330 could lift the stock to Rs 350 zone.

Promoter/FII Holdings
Promoters held 41.4 per cent stake in the company as of 29-Oct-2021, while FIIs owned 22.13 per cent, DIIs 13.95 per cent.