Balrampur Chini snaps 3-day losing streak; stock gains 5% on heavy volumes

Analysts believe that the government's curb on 10 metric ton sugar exports would not cause a major impact as their expectation was lower than the limit for this year.

Shares of Balrampur Chini Mills (BCML) moved higher by 5 per cent to Rs 373 on the BSE in Thursday’s trade on the back of heavy volumes. In the past three days, the stock slipped 16 per cent after the government imposed restrictions on sugar exports effective from June 1.

At 01:35 am; BCML was up 4 per cent at Rs 370, as compared to 0.69 per cent rise in the S&P BSE Sensex. The trading volumes on the counter nearly doubled as 6.8 million equity shares changed hands on the NSE and BSE.

Analysts at ICICI Securities