Balrampur Chini

Balrampur Chini Announces Buy Back Of Shares

Balrampur Chini Announces Buy Back Of Shares

Balrampur Chini Mills one of the giant sugar manufacturers has announced to buy back its shares. Managing Director of Balrampur Chini Mr. Vivek Saraogi has spoken to CNBC –TV 18 about this buyback offer. He also informed that the company will get Rs. 4000 crore from this offer.

The price will be decided soon. It is expected that the price will not exceed Rs. 85 for this buy back. Company will use 1100 million free reserves to buy back through exchange.

Balrampur Chini had underperformed since last one quarter. The shares have fallen by 5.62% as Sensex declined by 2.99%.

Bajaj Hindustan in a race to acquire 37% in Balrampur Chini

India’s largest sugar producer, Bajaj Hindustan - promoted by Shishir Bajaj, is said to be in discussions with Vivek Saraogi-promoted Balrampur Chini Mills to buy 36.67 per cent stake in the firm held by Kolkata-based Saraogis.

However, there is no official word from both sides but industry sources claimed that discussions are going on between both partners. Saraogi said, “Nothing has happened. I am not going to comment on speculation.”

Buy Balrampur Chini

The day traders who are looking for handsome return in intraday session can go for BALRAMPUR CHINI at around Rs 96, as the stock has shown positive results from last few days.

Market experts have recommended that day traders can purchase the stock with a stop loss of Rs 94 for achieving intraday target of Rs 101. If stock market remains positive, then traders can easily achieve next target of Rs 104.

The stock of BALRAMPUR CHINI is also looking robust to produce the inflation- and bond-beating returns for short term.

Balrampur Chini Intraday Buy Call

Balrampur Chini stock can be purchased by day traders in today’s trading session around Rs 96 with a stop loss of Rs 94 for achieving an intraday target of Rs.101.

If the stock markets remain on positive track, the next intraday target for the day is above Rs 104. The stock has down support of Rs 92.

The company’s shares ended positively at Rs 97.60 on Monday on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 127.9 and a low of Rs 49.9.

Balrampur Chini Buy Call

Technical Analyst, Rajat K Bose is of the view that investors can purchase Balrampur Chini Mills to achieve a medium-term target of Rs 127.

Bose told, “Balrampur Chini Mills is a buy. It’s a medium-term pick it’s not just a technical pick. The things are actually changing for sugar. The stock has a medium-term target of Rs 127, looks highly achievable. A stop loss should be placed below Rs 67. I personally hold this stock in my portfolio and I have recommended to all my clients also.”

Buy Balrampur Chini

Day traders are suggested to purchase Balrampur Chini stock around 87 with a strict stop loss of Rs 85. The target for the day is Rs 93. The stock has down support of Rs 82.

The stock price becomes more attractive, and can reach above Rs 97, if the stock markets remain positive.

On Monday (4 Feb), the share closed at Rs 88.85 on BSE. The stock of the company has touched 52-week high of Rs 127.9 and low of Rs 49.9 on BSE.

Balrampur Chini Intraday Buy Call

Balrampur Chini is looking good for intraday trading in today’s session.

Day traders can purchase the stock around Rs 106 with a strict stop loss at Rs 104. The target for the day lies between Rs 117. If the stock price hits this target early, the next target for the day will be above Rs 122.

On the Bombay Stock Exchange, the stock has touched 52-week high of Rs 127.9 and the low of Rs 49.9. The stock looks good for quick gains. The stock is expected to move up on the back of huge volumes.