Exit Shree Renuka Sugars on rally: Madan

Ashu Madan, President - Core Client Group, Religare Securities one should exit Shree Renuka Sugars on rally.

Madan told CNBC-TV18, “I have never been a fan of sugar sector in the past but talking about this particular query with the proposal in hand there could be some upside in these stocks and one can surely hold for some time with some gains expected out of it. If there is any move because of certain positive proposal and positive outcome out of that anybody who is holding a sugar stock should try and book limited losses or whatever profits on the table. So, I would advice currently with the proposal in place definitely Shree Renuka Sugars is a hold but I don’t see much upside, maximum upside could be 15-20 percent from these levels. At current levels with some stop loss one can hold – at some point in time whenever you get this kind of a gain you should get out of it.”