Exit Ugar Sugar Works, says Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "The difficulty here is that sugar has been on an uptrend for the past year or so and we have really seen a lot of the stocks rally quite smartly and unfortunately I don’t think Ugar Sugar has really joined the pack in that sense, which is what makes me little bit circumspect about the stock because sugar is at the end of the day a soft commodity which has a very definite cycle and now we are getting sort of to the peak of that cycle and from here on maybe prices will start correcting, etc. So we will go to the downward side of the cycle."

"So my advice really would be to exit the stock and to get into some other sugar play which is probably doing better, if you want to be in sugar. However, ideally I think you should now look outside the sugar space. So it is a little unfortunate to be in a stock where the entire sector I think was buzzing but I don’t think that Ugar Sugar has given much joy."

"I would prefer to get out of sugar altogether. I think if you have to be in commodities, I think there is still some upside left in metals. Again over there, the rally is a year, year and a half, but at least there most of the players have given reasonable returns. So, if you have to be in commodities, be in some commodity other than sugar," she said.