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The stocks of sugar companies jumped after the government removed the cap on sugar diversion for ethanol production for ESY (Ethanol Supply Year - December to November) 2024-25. Dalmia Bharat Sugar and Industries is currently trading at Rs. 477.75, up by 35.65 points or 8.06% from its previous closing of Rs. 442.10 on the BSE. Shree Renuka Sugars is currently trading at Rs. 50.47, up by 3.09 points or 6.52% from its previous closing of Rs. 47.38 on the BSE. Dhampur Sugar Mills is cur...
Sugar stocks sweeten as Government lifts diversion cap for ethanol production
Given the higher closing inventory expected in SS24 and policy stability around the corner (post general elections), industry has started pressing government for a) removing the export ban and b) increasing the diversion of sugar towards ethanol production. In our view, there is a high probability of increased diversion playing out. Hence, from a medium-term point of view, Balrampur Chini’s outlook looks promising as we expect it to deliver 17%EPS CAGR over FY24-27E. Moreover, from a lo...
Buy Balrampur Chini Ltd For Target Rs. 515 By JM Financial Services
After significant capex in the ethanol segment in the past 3 years (substitute of gasoline), BRCM has announced a foray into the manufacture of polylactic Acid (PLA), also known as ‘bio-plastic’ with forward integration (conversion of sugar into PLA) . The company will invest INR 20bn (INR 8bn equity from internal accruals; INR 12bn debt mix) over a period of 2.5 years. This new venture, with a capacity of 75k tpa, will be India’s first ever bio-plastic plant on a global sca...
Buy Balrampur Chini Ltd For Target Rs.500 - JM Financial Services
India's sugar consumption this year is poised to hit a record high as demand during the peak summer season gets a boost from heat waves and the mobilisation of millions for elections in the scorching temperatures. Higher consumption would lift local prices and boost margins of sugar producers such as Balrampur Chini, Shree Renuka Sugars, Bajaj Hindusthan, and Dwarikesh Sugar and help them in making cane payments on time to farmers. Consumption of cold drinks and ice cream, and...
India`s sugar demand surges in heat wave and election season
Stocks related to the sugar industry were under pressure, after industry body Indian Sugar Mills Association (ISMA) said that India’s sugar production declined 1.19 per cent to 25.53 million tonne (MT) so far in the ongoing 2023-24 marketing year. Sugar production stood at 25.84 MT till February in the year-ago period. Sugar marketing year runs from October to September. Bajaj Hindusthan Sugar is currently trading at Rs. 34.46, down by 0.68 points or 1.94% from its previous clo...
Sugar stocks under pressure amid lower sugar production data
Balrampur Chini Mills is currently trading at Rs. 385.25, up by 13.40 points or 3.60% from its previous closing of Rs. 371.85 on the BSE. The scrip opened at Rs. 381.30 and has touched a high and low of Rs. 389.95 and Rs. 380.45 respectively. So far 174510 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 485.80 on 30-Nov-2023 and a 52 week low of Rs. 349.50 on 27-Feb-2023. Last one week high and low of the scrip ...
Balrampur Chini Mills zooms on getting nod to enter new line of business to manufacture Polylactic Acid
Cane SAP rise – Key overhang now passé SAP hike – INR 5 higher than estimated The Uttar Pradesh (UP) government has increased sugarcane state advised price (SAP) by INR 20 (5.9%) per quintal to INR 360 for the ongoing sugar season. In our earlier estimates, we had already incorporated INR 15 per quintal increase in cane price. Hence, the actual price hike is incrementally marginally negative for UP-based sugar mills such as Balrampur Chini (BRCM IN). Q4FY24 is likely ...
Buy Balrampur Chini Mills Ltd For Target Rs. 483 - Elara Capital
Major disruption though temporary Major disruption though temporary India’s sugar production to increase ~6% The government’s moves to restrict the use of sugarcane juice and syrup for ethanol blending and limit the blending of B-heavy ethanol until existing contracts are expected: 1) to increase all-India sugar production by ~6% from 29.0-30.0mn tonne to 31.5-32.0mn tonne for the ongoing sugar season (Source: Elara Securities Estimate),&n...
Accumulate Balrampur Chini Mills Ltd For Target Rs.431 - Elara Capital
Larsen&Toubro Ltd Buy Larsen&Toubro Ltd @3082-3084; Target 3116.00; Stop Loss 3066.00 Balram Chini Ltd Buy Balram Chini Ltd @473-474; Target 479.80; Stop Loss 469.70 Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631
Stock Picks : Larsen&Toubro Ltd And Balram Chini Ltd By ICICI Direct
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