Anil Singhvi recommends BUY on Dwarikesh Sugar stock as commodity prices soar; know why
Zee Business Managing Editor Anil Singhvi today picked Dwarikesh Sugar from the sugar sector. He said the sugar sector is seeing good traction and momentum indicates further upside in this sector. Sugar prices in International markets have moved up and touched levels of $17 from $14.75 in the past 2 weeks. Balrampur Chini is set to benefit the most in the sugar space
Zee Business Managing Editor Anil Singhvi today picked Dwarikesh Sugar from the sugar sector. He said the sugar sector is seeing good traction and momentum indicates further upside in this sector. Sugar prices in International markets have moved up and touched levels of $17 from $14.75 in the past 2 weeks. Balrampur Chini is set to benefit the most in the sugar space.
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Singhvi said that Dwarikesh Sugar is also at attractive levels in this space. The sales figure of this company is nearly Rs 1500 cr. Increase of Rs 10 in sugar price will lead to EPS improvement of Rs 9 or Rs 10 for Dwarikesh Sugar. Valuations of this company are extremely attractive. The stock should be bought for 1 week with stop-loss of Rs 34 and targets of Rs 40 – Rs 43 – Rs 47.
Market expert Sacchitanand Uttekar, Head Research at Tradebulls says that Dwarikesh Sugar should be a portfolio pick for a target of Rs 43 immediately and Rs 49 positionally, stop-loss Rs 34 on a weekly closing basis. The stock is seeing good breakout on charts after consolidating for a long time.
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