Stay away from sugar space, says Baliga

Ambareesh Baliga, Independent Analyst suggest to stay away from sugar space.

Baliga told CNBC-TV18, "In sugar every time this sort of a news comes, you have some bump up. The way I see it, that bump up will last for a few days. After that, again you will seek lower levels. Surely, sugar is not a buy right now."
At 10:09 hrs Bajaj Hindusthan was quoting at Rs 24.40, up Rs 0.30, or 1.24%. It has touched an intraday high of Rs 24.40 and an intraday low of Rs 24.10.
The share touched its 52-week high Rs 37.25 and 52-week low Rs 21.90 on 17 February, 2012 and 28 January, 2013, respectively. Currently, it is trading 34.5% below its 52-week high and 11.42% above its 52-week low. Market capitalisation stands at Rs 1,560.14 crore.