Sudarshan Sukhani of s2analytics.com feels that one can short BHEL. Shree Renuka Sugars can go upto Rs 30. Sukhani told CNBC-TV18, “ Bharat Heavy Electricals has to be on the downside, contrarian buys have been absolutely slaughtered earlier.

Promoters of sugar companies are consolidating their holdings, taking advantage of the current low valuations in a cyclical industry.

Sugar stocks shed one to five per cent on expectation of further erosion in operating margins over 12-18 months. Balrampur Chini shed 4.78 per cent, Shree Renuka Sugars 2.24 per cent, Bajaj Hindusthan 3.08 per cent, EID Parry 0.94 per cent, ...

Vijay told CNBC-TV18, "Shree Renuka Sugars is a contrarian buy. It's trading around Rs 31 and people are afraid of like about everything else.

Mumbai: The government decided to free sugar exports on Wednesday due to a production glut and falling prices in the domestic market.