Tulsian told CNBC-TV18, "Triveni Engineering having bottomed out at about Rs 13.50 now it is ruling in a range of maybe about Rs 14-15 because lot of destruction has happened since the company announced its Q4 results and now since the crushing has started in the UP probably it is finding maybe some supports at the lower level."
He further added, "Taking a general call on the sugar industry and having presence in the UP based sugar mill I am not holding very positive view. Because these are very small priced stock, the turbine business having hived off, so the market cap is very low close to about Rs 350-400 crore in spite of the third largest sugar mill of UP. So this is just the buying at the lower level which is reflected into the rise of 7-8% in the share price."
