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Apr 08, 2013
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13:04
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| Event Update: Sugar Decontrol |
| India Infoline Research Team/13:04,Apr 08,2013 |
| Government announces partial sugar decontrol |
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Mar 15, 2013
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11:40
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| Balrampur Chini Mills: Bitter Sweet |
| India Infoline Research Team/11:40,Mar 15,2013 |
| Talks of sugar decontrol have always remained “cyclical” with nothing concrete carried out so far on reforming the sector. |
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Nov 30, 2011
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15:30
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| Balrampur Chini Mills: More sour than sweet |
| India Infoline Research Team/15:30,Nov 30,2011 |
| We spoke to Balrampur Chini to gauge the impact of recently announced cane SAP of Rs240/qtl on sugar dynamics. |
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May 17, 2011
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16:35
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| Balrampur Chini Mills (Q6 FY11) |
| India Infoline Research Team/16:35,May 17,2011 |
| BUY reco for a 9-mth revised TP of Rs81 (earlier Rs84). |
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May 12, 2011
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14:09
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| Shree Renuka Sugars (Q2 F9/11) |
| India Infoline Research Team/14:09,May 12,2011 |
| BUY on attractive 6x F9/12 EV/EBIDTA with a revised 9-mth TP of Rs84... |
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May 03, 2011
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12:30
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| Bajaj Hindusthan (Q2 F9/11) |
| India Infoline Research Team/12:30,May 03,2011 |
| We believe positives are priced in and do not foresee any near-term catalyst for the stock; retain our Market Performer rating with a marginal revision in 9-mth TP to Rs83. |
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Feb 08, 2011
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12:37
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| Bajaj Hindusthan (Q1 F9/11) |
| India Infoline Research Team/12:37,Feb 08,2011 |
| Bajaj Hindusthan (Q1 F9/11) |
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Feb 07, 2011
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14:39
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| Balrampur Chini Mills (Q5 FY11) |
| India Infoline Research Team/14:39,Feb 07,2011 |
| Upgrade to BUY as recent fall in stock price offers an attractive entry point for a 9-mth target of Rs85 (earlier Rs94) |
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Dec 01, 2010
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16:30
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| Bajaj Hindusthan (F9/10) |
| India Infoline Research Team/16:30,Dec 01,2010 |
| BJH full-year sales jumped 44% yoy driven by robust 60% rise in sugar revenues; free sugar realizations likely increased 30-35% yoy to Rs29-30/kg; Bagasse board sales up 46%
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Nov 15, 2010
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16:56
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| Balrampur Chini Mills (Q4 F9/10) |
| India Infoline Research Team/16:56,Nov 15,2010 |
| Balrampur Chini Mills (Q4 F9/10) |
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Oct 01, 2010
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20:45
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| Balrampur Chini Mills |
| India Infoline Research Team/20:45,Oct 01,2010 |
| Since domestic output is pegged at 25mn tonnes in 2010-11 season, India may not have enough stocks for export except for those under ALS obligations. Consequently, international prices have support from supply headwinds in the near term. |
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Aug 13, 2010
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17:15
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| Shree Renuka Sugars (Q3 F9/10) – MP (Target Rs72, Upside 4.7%) |
| India Infoline Research Team/17:15,Aug 13,2010 |
| Standalone revenues surge 70% driven by 36% jump in sugar revenues (realization up 26% yoy to Rs27/kg, volumes rose 16% to 0.3mn MT) and trading income (up 5-fold yoy) |
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May 03, 2010
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15:45
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| After bitter fall, sugar turning sweet? |
| India Infoline Research Team/15:45,May 03,2010 |
| Recent readings of RSI and daily chart formation suggest that some bounce is possible from the oversold zone in sugars stocks (Uttam Sugar, Dhampur Sugar, Bajaj Hind and Renuka Sugars). |
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Apr 29, 2010
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17:09
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| Balrampur Chini Mills (Q2 F9/10) – MP (Target Rs78, Downside 4.9%) |
| India Infoline Research Team/17:09,Apr 29,2010 |
| Sugar revenues up 43% yoy driven by ~59% surge in realizations to Rs32/kg |
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Apr 28, 2010
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17:30
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| Shree Renuka Sugars (Q2 F9/10) – MP (Target Rs69, Upside 9.7%) |
| India Infoline Research Team/17:30,Apr 28,2010 |
| Net revenues up 4.2x yoy due to surge in sugar volumes (+97% yoy) and realizations (+78% yoy to Rs33.6/kg) |
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Mar 15, 2010
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18:00
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| Sugar - ‘Turning Bitter’ |
| India Infoline Research Team/18:00,Mar 15,2010 |
| Domestic prices have dropped ~22% from their January 2010 peak on account of 1) higher than estimated production of ~16.8mn tonnes, up from ~15mn tonnes seen in early February 2) Government imposed stock limits and zero import duty on white sugar. |
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Feb 23, 2010
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17:42
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| Shree Renuka Sugars Ltd – BUY (Target Price Rs291, Upside 56.0%) |
| India Infoline Research Team/17:42,Feb 23,2010 |
| Shree Renuka Sugars (SHRS) has made its second Brazilian acquisition in the past four months, as it scouts for assets to secure raw sugar supplies for its 9,000TPD (Mar’ 11) domestic refining capacity. |
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Feb 15, 2010
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17:02
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| Balrampur Chini Mills Ltd - BUY (Target Price Rs159, Upside 36.0%) |
| India Infoline Research Team/17:02,Feb 15,2010 |
| Correction provides buying opportunity; Reiterate BUY |
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Feb 01, 2010
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16:53
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| Balrampur Chini Mills (Q1 F9/10) – BUY (Target Price Rs159, Upside 32.2%) |
| India Infoline Research Team/16:53,Feb 01,2010 |
| A ~72% yoy surge in sugar realizations compensates for 37% sugar volume sales; topline up 2.3% yoy |
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Jan 18, 2010
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17:20
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| Shree Renuka Sugars (Q1 F9/10) – BUY (Target Price Rs291, Upside 24.9%) |
| India Infoline Research Team/17:20,Jan 18,2010 |
| A surge in sugar realizations, 126% yoy rise in volumes \and higher trading revenues drive Q1 topline |
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