America Due to increasing tension between India and Iran once again, a decline is being seen in the stock markets. On Monday, the domestic stock market started trading with a big fall. Today BSE Sensex opened with a huge fall of 606.04 points (0.78 percent) at 76,963.35 points. Whereas, NSE’s Nifty 50 index started trading today at 24,039.40 points with a big loss of 167.50 points (0.69%). Meanwhile, Prime Research Head of brokerage firm HDFC Securities devarsh lawyer Has advised to buy the shares of Balrampur Chini Mills.
Buying advice in Balrampur Chini Mills shares
Devarsh Vakil, while advising on buying shares of Balrampur Chini Mills Limited, said that the company has expanded its ethanol production capacity and bagasse-based co-generation business and has successfully diversified beyond traditional sugar production. This move of the company has reduced its dependence on the highly cyclical Chinese market.
The company will benefit from increasing ethanol blending and promotion of biofuel.
Devarsh Vakil said this diversification provides greater revenue stability and improves profitability, especially during periods of fluctuating sugar prices. Additionally, the Government of India’s continued emphasis on increasing ethanol blending into petrol and promoting biofuels is expected to create consistent long-term demand for ethanol, thereby benefiting Balrampur Sugar Mills from favorable policy support and expanding market opportunities.
What is the target for the shares of Balrampur Sugar Mills?
He further said, “We feel that investors can buy shares of Balrampur Chini Mills Limited in the range of Rs 560-579 and can buy more shares if it falls to Rs 505-515.” Devarsh Vakil has given a target of Rs 650 for the shares of Balrampur Chini Mills in the next 4 quarters.
Market stabilized due to strong rise in IT shares
However, amid the strong rise in IT shares, a strong recovery is being seen in the market around 01.30 pm. Nifty IT index is trading with a rise of about 4 percent. During this time, both the major indices of the domestic stock market, Sensex and Nifty 50, were seen trading flat, recovering from their respective declines.
Disclaimer: This article has been written for information purposes only. Always consult your financial advisor before making any kind of investment or taking any financial risk. India TV will not be liable for any kind of risk.
read this also
Silver prices fell by more than Rs 4,000, gold prices also fell by 1%
