SUGAR STOCKS to Buy – Balrampur Chini, Dalmia Bharat Sugar shares are top picks for this analyst – buy for these target prices

Stocks to Buy – Balrampur Chini Mills Limited, Dalmia Bharat Sugar and Industries Limited shares – Technical analyst Nilesh Jain is optimistic about the sugar sector stocks – primarily Balrampur Chini shares and Dalmia Bharat shares. He said that both these stocks are poise well for an upward move and are also looking strong on the charts.

The sugar stocks are expected to gain from the increase in the FRP or Fair and Remunerative Price - a decision taken by the Narendra Modi Government on 25 August 2021.

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Jain is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking.

Stocks to Buy – Balrampur Chini Mills shares – The stock today ended at Rs 370.05 on the NSE on Tuesday, up by almost 0.3 per cent from the Monday closing price. Jain’s advice to investors is to buy this stock on dips.

He puts the target price between Rs 400-Rs 425. He puts the stop loss at Rs 330. The 52-week high for Balrampur Chini Mills share price is Rs 386.80 which it achieved on 29 July 2021. The 52-week low for this stock is at Rs 140 which this stock hit on 24 September 2020.

Stocks to Buy – Dalmia Bharat Sugar and Industries share price – Jain said that this stock was good and is xpected to do well in the near term. He puts the target price at Rs 500 while sees a strong support at Rs 385.

The stocks of Dalmia Bharat Sugar ended at Rs 430.15 on the NSE, down by almost 0.2 per cent from the last closing price on Monday. The 52-week high for this stock is  516.55 which it achieved on  2 August -2021. Meanwhile, the 52-week low for this stock stands at Rs 121 which it hit on 24 September 2020.

This stock has been trading both ways over the 5-6 trading sessions.