Balrampur Chini Mills Intraday Buy Call

Balrampur Chini Mills Ltd.According to technical charts, traders can buy Balrampur Chini Mills above Rs 125 with a stop loss of Rs 120. The price target for the said counter lies between Rs 134. This is an intraday call for day traders.

On National Stock Exchange, the stock of the company has touched 52-week high of Rs 127 and a low of Rs 49. The stock has seen an intraday high of Rs 127 with a low of Rs 122.

The group’s principal activities are to manufacture and market crystal sugar, industrial alcohol, iron castings, soya products, sunflower oil, molasses, fertilizers, chemicals, seeds, bio earth and other industrial products.

Sugar sector has been performing well in last one week after the government announced some relief package for the industry.

As per the available profit and loss account, company has registered a net profit of Rs 291 for year ending September 2006, and Rs -33crore for quarter ending September 2007.

Renuka Sugars, Triveni Engg and Sakhti Sugars are other stocks in the sector which are trading strongly on back of high volumes for past few trading sessions.