Balrampur Chini Mills: Wait for the sweet moment - Hold
While steady sugar prices can help the company, prospects hinge on the monsoon
After a protracted downcycle that lasted for five long years beginning 2010, sugar stocks have been on a roll over the last 18 months. This is thanks to the strong rally in the domestic sugar price (Sugar M contract on NCDEX) from the July 2015 lows of ₹21.6 a kg to ₹38.6 levels by April 2017. The strong price rise was aided by the steep drop in production from 28.3 million tonnes in 2013-14, to 2...
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