Dear SQ, Good analytical projection of price.
Fundamental of International sugar are improving now with ICE Future No.11 making new 52 week high and sustaining above 15 C/lb. At the same time London sugar has also come above 400 and making new high of 439 USD. In line with this fundamentals of our ingenious market are also improving with talks of surplus replacing deficit all over the world.
As far as Shree renuka is concerned now it has already started turning around by arresting losses as seen from last quarterly result. It is offering best entry point at this juncture since lots of investors are still not ready to look at its balance sheet. This is beauty of turn around case. Benjamin Graham who is considered as Guru of non other than Warren Buffett has said when stock is lying in corner and no body is even looking at it, is best time to enter.
I only want to convey here that recommendations will pour in coming time by the time stock start reporting positive figures in balance sheet.
This is accumulation time for Shree renuka.