Shree Renuka Sugars may test Rs 25: Gopi Suvanam

Gopi Suvanam, founder of InvestWorks told CNBC-TV18, "There is a drought apparently in Brazil and sugar prices are zooming up across the world. So that is another big positive in Shree Renuka Sugars. I have a target of about Rs 25. If it goes at that level, I would go short but at this moment, it would be a tactical trading call wherein I would buy and wait till it reaches Rs 25, that is another 10 percent from here."

On February 20, 2014 Shree Renuka Sugars closed at Rs 22.50, up Rs 0.80, or 3.69 percent.

The share touched its 52-week high Rs 29.50 and 52-week low Rs 14.50 on 20 February, 2013 and 28 August, 2013, respectively.