Sell Shree Renuka Sugar and Balrampur Chini: Ashish Maheshwari

In a chat with ET Now, Ashish Maheshwari, Director, Globe capital Market Ltd, talked about sugar sector. Excerpts:

What would you do with the sugar sector?

Even at Rs 27 ethanol pricing, they are not going to make much money from this because anyway 21.5, they were incurring losses only, so there will be marginal profit for them now but again the industry is passing through a bad phase where now October 1st onwards, the season will start and we are going to see this time a bumper crop of sugarcane, so sugar prices are going to be subdued only in this year, so still we have seen that after this news, there was only a small run-up in the stock, again stocks are settling down, so there is no follow-up buying in this sector per se, I would like give sale on Shree Renuka Sugar as well as Balrampur Chini.