Investors,
The sugar stocks have run up quite smartly during the last 1 month and they are now looking overbought.
Buy on declines of around 10% in the upcoming weeks. We give below the buy and sell ranges for the top 5 picks in the sector
Balrampur Chini Buy - Buy around Rs.55 levels target price of Rs.75
Bajaj Hindustan Buy - Buy around Rs.30 levels target price of Rs.50
Triveni Engineering - Buy around Rs.18 levels target price of Rs.35
Shree Renuka Sugars - Buy around Rs.30 levelstarget price of Rs.50
KCP Sugars - Buy around 15 levels target price of Rs.25
Holding Period - 6 months
Related post -
Ambareesh Baliga, COO, Way2Wealth told CNBC-TV18, “Sugar space, I am cautious at these levels because unlike last time when we had the sugar prices moving up, I think the inventory levels this time are much lower and last time I suppose most of the profits was from the inventory which was there and not really from operations.”
The sugar stocks have run up quite smartly during the last 1 month and they are now looking overbought.
Buy on declines of around 10% in the upcoming weeks. We give below the buy and sell ranges for the top 5 picks in the sector
Balrampur Chini Buy - Buy around Rs.55 levels target price of Rs.75
Bajaj Hindustan Buy - Buy around Rs.30 levels target price of Rs.50
Triveni Engineering - Buy around Rs.18 levels target price of Rs.35
Shree Renuka Sugars - Buy around Rs.30 levelstarget price of Rs.50
KCP Sugars - Buy around 15 levels target price of Rs.25
Holding Period - 6 months
Related post -
Ambareesh Baliga, COO, Way2Wealth told CNBC-TV18, “Sugar space, I am cautious at these levels because unlike last time when we had the sugar prices moving up, I think the inventory levels this time are much lower and last time I suppose most of the profits was from the inventory which was there and not really from operations.”
He further added, “So this time also I expect that the margins still would be under pressure going ahead with cane prices moving up because of monsoons which we have. So I think the upside is quite limited. Possibly a stock like Shree Renuka could move to levels of about Rs 36-37 but going beyond that would everybody quiet difficult.”
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Sugar prices may hike ......
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