See upside in EID Parry, Bannariamman Sugars: Rajen Shah

See upside in EID Parry and Bannariamman Sugars, says Rajen Shah of Angel Broking.

Shah told CNBC-TV18, "The retail price of sugar has gone up 10% in one month and I think that is getting reflected in the stock prices. We continue to be bullish on sugar and this morning I saw the numbers of EID Parry; absolutely stunning numbers, profit is up almost 40%, EID is our favourite in the sugar space and the second stock which we like is Bannariamman Sugars. We own both the stock in our PMS."
He further added, "EID has reported 40% jump and the sugar business has turned around from a loss of Rs 39 crore to a profit of Rs 7-8 crore. So sugar should continue to do well. We see a significant upside in both EID and Bannariamman Sugars from the current levels."
"Textile segment wise Century Textile has done well. At the current levels there is not much to lose in Century, so I would certainly be positive on it at the current levels of about Rs 300 or so."