Policy rumours lifting sugar stocks; avoid: Sudip Bandyopadhyay

In a chat with ET Now, market expert Sudip Bandyopadhyay shares his short-term outlook on the market.

ET Now: Would you recommend an investment in the sugar space?

Sudip Bandyopadhyay: Definitely not. In fact, there are some news flows in the market regarding some policy measures. If that does fructify, that will be positive mildly positive. There is still an overhang on the stocks. The government needs to do something to ensure that the entire industry and the commodity move in a manner which is desirable. So they are taking some action. But for an investor, I think it is a minefield. I will definitely not recommend investing in sugar stocks at these levels. Otherwise, EID Parry is a good stock. But based on these news flows, prices have moved up quite a bit. So at this level, I would definitely not like to buy into it.