Not the right time to buy sugar stocks: Gurunath Mudlapur

In a chat with ET Now, Gurunath Mudlapur, Director, Atherstone Capital Markets Ltd, talks about the outlook of sugar stocks.

Would you buy into the sugar stocks right now?

This is not the time to make any fresh positions in sugar stocks for a simple reason that the monsoon season is just starting off and then if we are having a good season in terms of monsoon and then the supply of sugarcane can be good, then the prices will come down and that's bad for the sector but if it is other way round then again we may have some amount of scepticism that the rainfall may not be good enough, then the companies in the sugar sector will have another good year for themselves.