Cannot expect sustainable recovery in sugar stocks

In a chat with ET Now, Rajat Bose, shares his views on sugar stocks.

What is the call on sugar stocks?

Rajat Bose: I had said that unless stocks like Renuka or Bajaj Hindustan cross 30 and Balrampur cross 40, we cannot expect some sustainable recovery. These recoveries have been seen earlier but they do not sustain.

Sugar is one sector or one industry that investors are not touching. Maybe, some traders are active in the sector but sugar stocks per se have not shown any technical recovery signs unless we are willing to look at the sector from 2 to 3 years perspective.