Sugar shares have been nosediving for close to one month after Authorities of Indian (GoI) levied excise responsibility on sugar export. High quality sugar shares like Dhampur Sugar Mills, Mawana Sugars, Dwarikesh Sugar Industries, Shree Renuka Sugars, EID Parry, and so forth. have corrected closely from its respective 52-week excessive.
So, positional traders on the lookout for shares accessible at a gorgeous valuations could have a look at the next 5 sugar shares that has remained below base-building mode for lengthy.
1] Dhampur Sugar Mills: Shares of this sugar firm is presently quoting ₹213.50 apiece on NSE whereas its 52-week excessive is ₹584.50 per share. So, Dhampur Sugar share worth at the moment is obtainable at a reduction of greater than 60 per cent. This sugar inventory’s 52-week low is ₹198.30, which suggests the sugar inventory is mere ₹15 above its 52-week lows.
2] Mawana Sugars: Share worth of this sugar firm is presently quoting ₹95.50 on NSE whereas its 52-week excessive is ₹179.70 apiece. the 52-week low of Mawana Sugars shares is ₹59.55. So, the sugar inventory has corrected greater than 45 per cent from its 52-week excessive whereas it’s buying and selling round ₹46 above its 52-week low. It is without doubt one of the sugar shares that give sturdy return to its shareholders after ushering in new 12 months 2022.
3] Dwarikesh Sugar Industries: Shares of this sugar firm is without doubt one of the shares which have given stellar return to its shareholders after ushering within the new 12 months 2022. Nevertheless, it has gone by means of heavy correction in latest classes. Dwarikesh Sugar share worth at the moment is ₹95.80 whereas its 52-week excessive if ₹148.45. So, this sugar inventory is obtainable at a reduction of close to 35 per cent from its 52-week highs.
4] Shree Renuka Sugars: This sugar inventory has corrected closely after ascending to its 52-week excessive of ₹63.20 on NSE in April this 12 months. Renuka Sugar share worth at the moment is ₹44.60 apiece, which is round 30 per cent decrease from its 52-week excessive. Nevertheless, regardless of heavy correction, this sugar inventory is 46 per cent larger in YTD time.
5] Balrampur Chini: Share worth of this sugar making firm has corrected closely in latest classes. In final one month, Balrampur Chini share worth has slipped from round Rs413 to ₹357 apiece ranges, recording round 13 per cent dip on this interval. The sugar inventory has 52-week excessive of ₹525.90 on NSE, which suggests the inventory is presently 32 per cent decrease from its 52-week excessive.
Requested concerning the sugar inventory that one should purchase at present ranges, Anuj Gupta, Vice President — Analysis at IIFL Securities mentioned, “In sugar phase, Balrampur Chini appears to be like engaging on chart sample. The sugar inventory has sturdy assist at ₹318 ranges whereas the inventory is dealing with resistance at ₹410. So, the inventory is presently priced in the course of its larger and decrease vary. One should purchase the inventory and carry on accumulating until it’s sustaining above ₹318 apiece ranges.”
Disclaimer: The views and proposals made above are these of particular person analysts or broking firms, and never of Mint.
Supply: Live Mint