Bajaj Hindustan continue to underperform: Nirmal Bang
Nirmal Bang believes that in spite of sugar industry in up move, Bajaj Hindustan will continue to underperform in the current year as compared to its peers on account of very high debt level, low production and threat of equity dilution.
Nirmal Bang’s report:
Bajaj Hindustan Ltd (BHL) the largest sugar producer in India and Asia and 4th largest sugar producer in world is lagging behind as compare to its competitor Shree Renuka Sugar while comparing on share price performance.
BHL has produced around 7.5 lakh tones of sugar in the current season as against 9.82 lakh tone in previous year down by around 24%.
We believe in spite of sugar industry in up move BHL will continue to underperform in the current year as compared to its peers on account of very high debt level, low production and threat of equity dilution.
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