Keep Shree Renuka in portfolio: Baliga

Ambareesh Baliga of Karvy Stock Broking feels that one can keep Shree Renuka Sugars in the portfolio.

Baliga told CNBC-TV18, "We are extremely positive on as far as the sugar prices are concerned like we have already seen Rs 55 increase per quintal and especially the way the rupee is behaving even that is positive for the sugar industry. Even the demand supply gap which was there like you had oversupply over the last one to one and a half year; I think that should get over in the next one year or so. So overall for the sugar industry I think better days are ahead at least if you are looking at the next twelve-eighteen months. So Renuka Sugar and Balrampur Chini are the stocks that one can buy and although Balrampur Chini has some negatives especially after the High Court verdict but still Renuka is one pick from sugar space, which one should have in their portfolio."