Buy Balrampur Chini Mills, target price Rs 463: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Balrampur Chini Mills with a target price of Rs 463. The current market price of Balrampur Chini Mills Ltd. is Rs 441.7. 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 9011.43 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
Higher highs-higher lows from 3 wks after taking support at 50 WMA, pole and flag breakout on daily frame.

Promoter/FII Holdings
Promoters held 42.42 per cent stake in the company as of 31-Dec-2021, while FIIs owned 21.27 per cent, DIIs 14.61 per cent.