BALRAMCHIN.NSE Balrampur Chini Mills Ltd.

The US National Oceanic and Atmospheric Administration's Climate Prediction Center said on June 8 that El Nino has kicked off. The weather pattern has often been associated with inadequate monsoon rains in India, the world's biggest sugar producer

Balrampur Chini is currently nearing its 3-month's high which tells that the stock already is in strong momentum. The stock in the latest week broke out of Inverse Head & Shoulder pattern, signaling a beginning of the trend to the upside.

Sharekhan is bullish on Balrampur Chini Mills has recommended buy rating on the stock with a target price of Rs 425 in its research report dated February 14, 2023.

Record production, surging exports and the ethanol story is working wonders of Indian sugar companies. But can the past returns sustain despite an ongoing correction?