Hot Chips - Shree Renuka Sugars
Ali On Content / 11 May 2009
The counter is currently in the thick of action and has witnessed huge rise in volumes and the CMP on the bourses. The counter might move up by 10-15 per cent in the next few weeks. Thus investors with short to medium-term investment horizon can invest in the counter to make smart buck.
Shree Renuka Sugars
BSE Code: 532670
Volume: 1911809
CMP: 110.15
According to the industry estimates, the sugar production for the year 2008-09 is expected to be at 18 Million Tonnes (MT) as compared to the consumption of around 23 MT. Such demand-supply gap has fueled sugar prices in the domestic market. However, the government has recently proposed abolishing the import duty on the raw sugar to cap the spurt in the prices of the sugar in the domestic market. However, as per an institutional report, the sugar manufacturing companies in Q1FY10 might cash in this rise in the sugar prices and subsequent rise in the margins. Thus the counter is currently in the thick of action and has witnessed huge rise in volumes and the CMP on the bourses. As a derivative analyst points, the counter still seems good in short to medium perspective. And as per a broker, the counter might move up by 10-15 per cent in the next few weeks. Thus investors with short to medium-term investment horizon can invest in the counter to make smart buck.