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Analysts are watching the Re 1-face value Balrampur Chini Mills stock for what some of them say are plans chalked out by the company for expansion. The sugar outfit, which has half a dozen units in Uttar Pradesh, is adding to its production arsenal, courtesy two green-field complexes.

Each unit is expected to have a sugarcane crushing capacity of 8,000 tcd. The company is also proposing to double its borrowing limit to Rs 2,000 crore in view of its expansion and diversification plans.

It further plans to secure advances up to Rs 600 crore from State Bank of India, for which shareholders' consent will be sought.

The stock on Wednesday closed at Rs 78.90 on the NSE. Volumes stood at 22.6 lakh shares.

Nilanjan Dey

More Stories on : Stock Markets | Stocks | Sugar | Ear to the ground

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