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The Hindu Business Line Bajaj Hindusthan (Rs 237.15): Buy We recommend a buy in Bajaj Hindusthan from a short-term perspective. It is evident from the charts of Bajaj Hindusthan, that following a steep fall from Rs 399 to Rs 117 in short period of nine trading sessions (from January 9 to 22), the stock ... More

Bajaj Hindusthan reports profit after revaluing cane at SMP (The Hindu Business Line 3rd Jan 2008)Bajaj Hindusthan Ltd (BHL), the country’s leading sugar maker, has taken advantage of a favourable ruling on cane pricing by the Allahabad High Court to report a ‘corrected/revised’ profit after tax (PAT) of Rs 45.65 crore on net sales of Rs 1,713.01 crore for the year ended September 30, 2007. The High Court, in its order dated December 19, had quashed the Uttar Pradesh (UP) Government’s State Advised Price (SAP) of Rs 125-130 per quintal payable by mills for cane crushed during the 2006-07 season (October-September) as “arbitrary” and “unreasonable”. The State Government was directed to reassess the SAP “backed by reasons giving adequate outlines of norms, criteria or guidelines”. More

Sugar output may miss forecast, ease global glut (Live mint.com 7th Dec 2007) India, the world’s second biggest producer of sugar, may make less of the sweetener than forecast by traders and millers because of delays in crushing cane, easing a glut that has slashed global prices. Output may be 28.3 million tonnes (mt) in the year to 30 September, said Vinay Kumar, managing director of the National Federation of Cooperative Sugar Factories Ltd. That is less than the 30mt the group had predicted in July and a 33mt estimate from the International Sugar Organization (ISO) in London. A global glut has slashed refined sugar prices 35% in 18 months, making the sweetener the worst performing agricultural commodity over that period. World output may exceed demand by 11.1mt this year, led by a record output in India, ISO has said. Bajaj Hindusthan Sugar & Industries Ltd has informed BSE that the following two new Sugar Plats at:1. 7,000 TCD plant at Rudauli in District Basti; and2. 15,000 T...