Shree Renuka can test Rs 89-90: Thacker

Shree Renuka Sugars can test Rs 89-90, says Technical Analyst, Mitesh Thacker, miteshthacker.com.

Thacker told CNBC-TV18, "A lot will depend on the Nifty. Sugar stocks have also lost some ground along with the markets falling but in case the Nifty manages and holds to bounce back I think Renuka can also give a bounce back to levels of about Rs 89 to 90. It will be difficult for the stock price in the short term to get past those levels." The company's trailing 12-month (TTM) EPS was at Rs 6.13 per share. (Sep, 2010). The stock's price-to-earnings (P/E) ratio was 14.06. The latest book value of the company is Rs 18.59 per share. At current value, the price-to-book value of the company was 4.64. The dividend yield of the company was 1.16%.