Sharekhan is bullish on Balrampur Chini Mills has recommended buy rating on the stock with a target price of Rs 495 in its research report dated September 27, 2023.

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban.

Foreign portfolio investors were net sellers at Rs 2,333 crore on Monday. DIIs bought shares worth Rs 1579 crore.

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

The net long position of foreign portfolio investors decreased from Rs 33,913 crore on Wednesday to Rs 22,565 crore on Thursday.

The net long position of foreign portfolio investors decreased from Rs 58,995 crore on Monday to Rs 33,913 crore on Wednesday.

Indian frontline indices fell on Monday amid profit-selling pressure in bank, IT and metals stocks. The S&P BSE Sensex snapped its 11-session winning streak as it ended at 67,596.84, down by 241.79 points or 0.36%. The broader Nifty50 fell by 69.80 points or 0.35% to close at 20,122.55. Meanwhile, banking gauge Nifty Bank settled at 45,942.65., lower by 288.85 points or 0.62%.

The net long position of foreign portfolio investors decreased from Rs 62,030 crore on Friday to Rs 58,995 crore on Monday.

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Sakthi Sugars jumped 11.3%, Dhampur Sugar gained 10.4%, Dwarikesh Sugar rose 9.8%, Bajaj Hindusthan advanced 7.2% and Balrampur Chini moved up 4.8%.

We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout.

The western state of Maharashtra, which accounts for more than a third of India's sugar output, could produce 9 million metric tons in the 2023/24 season (which begins on Oct. 1), down from 10.5 million tons in 2022/23, said B.B. Thombare, president of the West Indian Sugar Mills Association.

E20 is blending of 20 per cent ethanol in petrol for use in vehicles by 2025. This is expected to double the demand for ethanol from 400 crore litres in the current fiscal to 800 crore litres in the next year. Earlier the government preponed the time from 2030 to 2025 for the change in the ethanol percentage in fuel for vehicles.

Avadh Sugar & Energy surged 10%. Uttam Sugar Mills, Dalmia Bharat, Shree Renuka Sugar, and Dhampur Sugar Mills rose between 5% and 6%. Balrampur Chini and Bajaj Hindusthan moved up by 1-2%.

The gains have been on the back of over 3% jump in the price of sugar in a fortnight to their highest level in six years. A Reuters report quoted traders and industry officials attributing limited rainfall in the country's key growing regions to be the reason for this panic hinting a fall in production in the upcoming season.

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Oil prices spiked more than 1% on Tuesday after Saudi Arabia and Russia announced a fresh extension to their voluntary supply cuts, stretching a combined 1.3 million barrel per day (bpd) reduction for another three months through December.

Sugar prices in India have surged over 3% in the past two weeks to their highest level in six years due to concerns over limited rainfall in key growing regions. This could lead to food inflation and discourage the Indian government from allowing sugar exports, supporting global prices. Sugar mills are worried about a potential fall in production in the upcoming season due to drought.

The crossing of the 200-day SMA is a notable achievement, providing insights into potential shifts in market sentiment and the companies' resilience.

Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones.

Sharekhan is bullish on Balrampur Chini Mills has recommended buy rating on the stock with a target price of Rs 475 in its research report dated August 07, 2023.

Backed by healthy operating numbers, Balrampur Chini Mills reported a standalone profit of Rs 69.33 crore in the June quarter

The company's chief executive Neeraj Saxena said the fresh funds will be used by the company to expand its loan book. Bhanshali and Balrampur Chini continue to be majority shareholders in the company post the fund raise.

Option data suggests a shift in trading range in between 19500 to 20200 zones while an immediate trading range in between 19600 to 20000 zones.

This event signifies a shift in the stock's trend from bearish to bullish, potentially indicating a buying opportunity for investors. The crossing of these moving averages is believed to highlight a reversal in the stock's momentum and may signal the start of a new upward trend