Not very bullish on sugar stocks: Fayeza Hafizee, Intime Spectrum Securities Ltd

Fayeza Hafizee, Vice President, Institutional Sales, Intime Spectrum Securities Ltd, in a chat with ET Now talks about sugar stocks.

What is your view on some sugar stocks? They are 3% to 4% up a piece in today’s trade.

I like the fact that there is good news in sugar in a long time and you have seen 3-4% rally. Going forward, a lot will depend on how sugar prices move. There has been a fair amount of upward movement in the sugar prices even internationally as all commodity prices went up yesterday.

We are not extremely bullish on the sector however, yet, but we do see some trading gains to be made in Balrampur Chini, in Renuka as well, perhaps anywhere from 7% to 10% upside in these counters. However we would only recommend these for trading for now, not really on a long term buy.