Stop loss of 72 should be maintained Shree Renuka Sugars: Vinith Jain, Siddh Capital

Vinith Jain, Director, Siddh Capital, in a chat with ET Now talks about Shree Renuka Sugars.

Just in case Shree Renuka Sugars’ deal doesn’t fall through, is it a big blow for Renuka?

Yes, the stock has been in very strong downtrend and the pullback doesn’t seem to have formed any strong reversal pattern on the near bottom. So may be a sell on the stock again on the pullbacks around 67-68. Stop loss of 72 should be maintained and received good downside here up to 45.