Earnings weak, stay away from sugar stocks: Avinnash Gorakssakar

In a chat with ET Now, Avinnash Gorakssakar, Head of Research, Miintdirect.com, shares his view on sugar stocks.

ET Now: What is your view on sugar stocks? The scrips have witnessed a sporadic rally; would you recommend 'avoid'?

Avinnash Gorakssakar: Yes. I would like to have a 'avoid' call on sugar stocks. It is because one needs to time this sector properly. In the recent past, we have seen such rallies happening, but one cannot deny that the quarterly numbers have been pretty dismal for this sector. Therefore, it is better to avoid sugar stocks. There are many other spaces where there is good value and where earnings visibility is possibly much stronger.