The derivative analyst from HDFC Securities recommends buying Balrampur Chini April 520 CALL and simultaneously selling 520 CALL.
Sugar stocks rallied up to 11 per cent on the BSE in Friday's intra-day trade on strong outlook and foreign institutional investors (FIIs) interest.
With Nickel, Gold and wheat also hitting multi-year highs like Crude Oil, these five commodity related shares are likely to witness strong gains, indicate charts.
Major sugar stocks are ready to claim new bullish territory
Stocks like Asian Paints, Astral, Balrampur Chini, Birlasoft, Carborundum Universal, eClerx, Infosys, Max Healthcare, Tube Investments and Torrent Pharma and others are trading at life-time highs
According to CRISIL, sugar mills are expected to see both revenue and profitability improve in the 2022 season (SS 2022; October 2021 to September 2022).
The company has received total orders of 157,100 kilo litres for supplying ethanol to both public sector and private sector oil marketing companies (OMCs).
ICICI Securities believe domestic as well as global sugar prices would remain firm at least for next one year
Tight global demand-supply situation, favourable government policies and continuous push for higher blending will keep the inventory levels under control and sugar prices firm
According to the technical analyst from Anand Rathi, most technical indicators are in favour of the bullish bias for these three stocks
Balarmpur Chini, Triveni Engineering, Shree Renuka, Dhampur Sugar, Dalmia Sugar and Avadh Sugar gained in the range of 4 per cent to 8 per cent in Tuesday's intraday trade
India's sugar export rose 20 per cent to an all-time high of 7.1 million tonne in the 2020-21 in the marketing year ended ended September 2021 on the back of better demand and financial assistance fro
Any further development regards to the increase in sugar price can push the stocks higher in a short span of time
The board of directors of Balrampur Chini Mills is scheduled to meet on Monday, August 9, 2021, to consider buyback of equity shares of the Company
Triveni Engineering hit a record high of Rs 198 as the scrip rallied 18 per cent today, taking its gains to 31 per cent in the past two trading days
Balrampur Chini Mills on Tuesday reported a 2.46 per cent decline in consolidated profit during the quarter ending March 31, at Rs 235.50 crore compared to the same period of the last financial year
Most brokerages have a positive stance on India's sugar industry as it appears well poised to benefit from global and domestic factors
The industry is undertaking huge capacity expansion programmes to meet the ethanol requirement of 10 billion litre by 2025
In the past one month, Balrampur Chini Mills has outperformed the market by surging 27 per cent, as compared to 0.88 per cent rise in the S&P BSE Sensex
According to Crisil, sugar offtake in the current sugar season is expected to remain more or less at last season levels despite the Covid-19 pandemic