Limited upside in sugar stocks: Baliga

Baliga told CNBC-TV18, "I think the upside for sugar is limited, because anyway the sugar prices are moving up but I think the production is going to suffer thanks to monsoons. So that will be also a pressure on margins of the sugar companies. So I think the upside from here is limited. For example, something like a Shree Renuka , I really don’t see that stock moving beyond levels of about Rs 36-38."

Shree Renuka Sugars' trailing 12-month (TTM) EPS was at Rs 0.36 per share. (Mar, 2012). The stock's price-to-earnings (P/E) ratio was 90.69. The latest book value of the company is Rs 26.64 per share. At current value, the price-to-book value of the company was 1.23. The dividend yield of the company was 3.06%.