Balrampur Chini Mills Ltd, the Sugar major disclosed Rs 106 crore stand-alone net profit for the quarter ended on September as compared to a net loss of Rs 13.59 crore in the year-ago period. The firm also announced buy-back of one crore equity shares for Rs 175 crore. The total income increased to Rs 941.3 crore in the second quarter of this financial year from Rs 555.8 crore in the same period of the previous year, as per the company’s regulatory filing.
Balrampur Chini Mills’s board also approved the buyback of fully paid up equity shares not crossing one crore shares (which represents up to 4.08 per cent of the total paid-up equity share capital) at a price of Rs 175 per share payable in cash for a total amount of up to Rs 175 crore. The buyback is going to be subject to the approval of the shareholders by way of a special resolution. The board also noted the intention of the promoters and promoter group of the company to participate in the suggested buy back.
On 15th Nov, Balrampur Chini share price was trading at Rs. 119.45 (up by 3 per cent). The stock opened at Rs. 115.90 as compared to its previous closing at Rs.115.80. The stock touched the days high and low at Rs. 124.70 and Rs. 108.25. As of now the stock is trading above 1.15 per cent. The Company has a market map of Rs. 2837.18 (Cr) and has a book value of 50.12.
Balrampur Chini is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE. Balrampur Chini is fundamentally strong and is safe for investment, as per Dynamic analysts.
In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Balrampur Chini share price history.