On July 22nd, when analysts were giving no calls on sugar stocks, I had written to the group: "Sugar stocks will soon do very well; but Renuka is a better integrated sugar player than Sakhti Sugars. Renuka has the potential of climbing from 63-64 levels to 80-85 in the next 3-4 months". Renuka did that and even crossed 100.
However, I just learnt that international sugar prices have suddenly softened and the entire sugar space looks doubtful once again. Hence responding to the market conditions, avoid sugar stocks for now. If you are sitting on decent profits, book some profits and reduce holdings.
On Fri, Nov 12, 2010 Mustafa Bharmal wrote:
I WANT TO BUY RENUKA SUGAR., WHAT IS YOUR VIEW ON THAT SHOULD I BUY OR NOT PLEASE ADVICE.
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