Prefer EID Parry over other sugar stocks: Deven Choksey, MD, KR Choksey Securities

In a chat with ET Now, Deven Choksey, MD, KR Choksey Securities, shares his outlook on sugar stocks. Excerpt:

ET Now: A quick perspective on the rally that we are seeing for some of the sugar names.

Deven Choksey: This can be largely attributed to the sugar price in the open international market and that is where many of these sugar companies have started showing up a good amount of stability.

Of course, the talks are on with Renuka taking over Wilmar, etc that is something which market would keenly watch.

Given the situation in which most of the sugar companies are operating currently, it is safer to stay away from the UP based sugar mill companies vis-à-vis that southern sugar mills like EID, which would be a better choice to add into the portfolio.