Shree Renuka Sugars can go back to Rs 10-11: Baliga

Ambareesh Baliga, Independent Market Expert told CNBC-TV18, "I do not think one should be looking at buying Shree Renuka Sugars at this point of time. If one wants to be in sugar, possibly, KCP Sugar is one of the better ones where at least the balance sheet is decent. They are the ones who would possibly survive even if the sugar sector does not pick up in the next 1.5-2 years. But I do not know whether a stock like Shree Renuka can survive the next 2-3 years in case the sugar sector does not pick. These are the stocks which the market rediscovered that there is something called a sugar sector about 3-4 weeks back.""I do not think one should be looking at buying it at about Rs 13. I think it can go back again to those Rs 10-11," he added.