The minimum selling price of sugar has remained unchanged at Rs 31 per kg since February 2019.
LIC saw a decisive breakout of long falling resistance trendline adjoining highs of December 20 last year, and August 11 this year. The stock has formed a bullish candlestick pattern with long upper shadow on the daily charts with strong volumes.
The company's revenue fell 3 percent year-on-year YoY to Rs 710.76 crore in Q1FY24.
MeritorQ favours companies which generate high returns on capital and are currently undervalued on the price-to-free cash flow basis. The current portfolio has higher weightage to materials, consumer staples and IT, says the fund manager