Independent Market Expert, Ambareesh Baliga told CNBC-TV18, "I think the whole sugar pack could be a dark horse because the industry is in the ICU and unless the government does something for them you will have most of these mills closing down in the next 1.5-2 years and we really can’t do without sugar; Indians can’t do without sugar. So, clearly the government has to do something about it and this is just the beginning."
"Ethanol blending surely is positive for them and at the same time in case they announce some set of import duty increase possibly some export incentives, I think this could be a beginning of big move for the sugar going ahead. So, at the current juncture, Bajaj Hindusthan is the best bet in this followed by Balrampur Chini and Shree Renuka Sugar," he added.
"However, at the same time, the move in Praj Industries could only be a sentimental move because already the capacity has been built up in India for nearly 10 percent blending and we are yet to reach about 5 percent. So, I don’t think this will be incrementally positive for Praj but you will have surely a sentimental move," he said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
