Technically also most sugar stocks with exception to Balrampur and Shree Renuka was trading with very low volume for last many months with hardly any takers for sugar stocks. Also it is surprising companies with sales turnover in 100s and 1000s cr is quoting at valuation of 20-40 cr and 100 – 200 cr across the board and this amount of undervaluation is currently not available in any other sector in indian stock market. Basically most sugar stocks is already priced for bankruptcy and holding sugar inventory which is more than mcap for many stocks. Offcourse debt in many cases also is relatively very high and some of them in CDR.
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