Balrampur Chini Mills Ltd will start marketing its low alcoholic carbonated beverages under the brand name Xotica during February.
The Board of Directors of Balrampur Chini Mills Ltd at its meeting held today (January 25, 2003) has approved a project for setting up a Distillery Plant to produce Industrial Alcohol & Ethanol having a capacity of 60 KLPD at an estimated cost of Rs
Balrampur Chini Mills Ltd has informed BSE that the power project at Balrampur (Uttar Pradesh) is expected to be commissioned in the month of February 2003.\n\n\n\n
The ministry of corporate affairs has begun prosecuting directors of Kolkata-based Balrampur Chini Mills, India's second-largest sugar company, for not complying with accounting standards and Schedule V1 (Section 211) of the Companies Act. The prosecution has been initiated after inspection under the Companies Act.
Shishir Bajaj-promoted Bajaj Hindusthan, India's largest sugar producer, is in talks with its nearest competitor Balrampur Chini Mills to acquire the 36.67 percent stake of the current promoters, the Kolkata-based Saraogis.
The unknown architect of Balrampur Chini, Meenakshi Saraogi's biggest achievement lay in inspiring farmers to grow more cane.
Sugar prices are hovering near six-year highs, leaving a bad taste in Indian consumers' palates but sweetening the portfolios of investors in related stocks at Dalal Street. Shares of sugar manufacturers such as Piccadily Agro, DCM Shriram, Magadh Sugar, and Bajaj Hindustan have rallied up to a whopping 200 per cent so far in the financial year 2024 (FY24) as deficient monsoon rains in major sugarcane producer states like Maharashtra and Karnataka are expected to lead to a shortfall in sugar output ahead. In comparison, the BSE Sensex has modestly gained 11 per cent during this period.
The Indian Sugar Mills Association president and Balrampur Chini managing director Vivek Saraogi speaks to Ajay Modi on the way ahead for the industry.
Stocks of sugar companies rose after the development. At the Bombay Stock Exchange, Bajaj Hindusthan, India's biggest producer, gained 4.25 per cent to close at Rs 121.35, Balrampur Chini gained three per cent and closed at Rs 88 while Renuka Sugars gained four per cent to Rs 68.
Asian Paints, Cipla, Bharat Forge, Dabur India, Nicholas Piramal and Satyam Computer Services are among the 20 Indian corporate entities that have found place in Forbes' list of 'Best Small Asian Companies'.
Mutual funds predominantly bought engineering, media, pharma, and oil and gas stocks in July
DCM Shriram Industries , too, is issuing 700,000 warrants to its promoters, Tilak Dhar and his brothers, which will raise their shareholding from 32.54 per cent to 42 per cent, though this has been challenged in the courts by shareholder Harish Bhasin, who has mounted a takeover bid on the company.
Calling the bluff of the country's sugar barons, the Centre has scrapped 98 per cent of the industrial entrepreneur memorandums obtained by them for setting up new production units.
Transcript of the market chat with expert Pranav Sanghavi.
Sugar scrips surged in early trades on Friday on good buying support following reports that Parliament has passed the Essential Commodities (Amendment) Bill 2003.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
While Mcleod Russel, ADF Foods, Indiabulls Real Estate, DCM Shriram and BSE have announced buyback through open market route, the remaining 23 companies plan to buy back their shares via tender offers
India will raise its import duty on sugar to 40 percent from 15 percent, as the government tries to revive business at mills that owe farmers around $1.84 billion, the food minister said on Monday.
The Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
The BSE Midcap and the S&P BSE Smallcap indices outperformed to gain 0.6% and 1.1%, respectively
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
Persistent capital inflows by domestic institutional investors and retail investors kept the markets in fine nick
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
India is the world's second-biggest sugar producer after Brazil and has been looking to offload a surplus in an already well-supplied world market.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
Financials declined amid profit taking while energy shares fell after the government hiked excise duty on transport fuels.
BSE Auto was the top sectoral loser with a 4.6% fall followed by realty sector down 3.7% and consumer durables 3.6% post disappointing IIP numbers
ONGC was the top gainer which surged over 4% followed by Axis, SBI, CIL
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ITC, Infosys, Wipro and HDFC Bank among the major losers.
Markets climb higher tracking global cues.
Five of the 12 BSE sectoral indices ended at 52-week highs; the oil and gas index zoomed by nearly 5%.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Nifty and Bank Nifty ended at record closing high of 7,913 and 15,865 respectively.
The sugar industry clamouring for control and intervention should set the alarm bells ringing in the corridors of power.
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
These investors are not only betting on little-known stocks, but also sectors that the market participants are not paying much heed to. Some of these stocks can be potential multi-baggers, while others may not live up to the expectations of these stock-pickers, says Jash Kriplani.
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