Balrampur Chini is a good buy for target price of Rs 500

Balrampur Chini is down 17% over the Ethanol ban. However, the correction is overdone because the ban will not materially impact Cos bottomline as the lower ethanol volumes will be partly offset. Weakness is an opportunity to buy for TP of Rs 500: JM Fin

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Balrampur Chini is a good buy for target price of Rs 500