Balrampur Chini may slip further, says Ambareesh Baliga, COO, Way2Wealth.
Baliga told CNBC-TV18, "Balrampur Chini numbers are clearly very disappointing because although we were quite conservative and we are looking at a loss of about Rs 40 crore even against that we are seeing the losses much higher. The way I see the sugar space atleast for the next 3 quarters is that we still see the cycle down. I don't see any sort of a hope immediately except for the export quota and things like that which could be announced from time to time. So, these could be the small triggers for the stock to bounce back, but clearly the way I see atleast for the next couple of months is clearly on the way down."
He further added, " Crompton Greaves , most of the cleaning up has already taken place and based on that we have seen that stock actually crashing from those levels of Rs 230-240 to levels of Rs 120. From there we have seen it recovering. So, I don't see too much of cleaning up happening in this quarter, so possibly we could see a positive surprise."
