Sugar stocks: Time to buy?
Here’s how the major Indian sugar stocks have performed over the past year:
The ones I’ve charted above are Bajaj Hindustan, Balrampur Chini, Dwarkesh Sugar & Renuka Sugar. My first reaction - Ouch! But a contrarian would look at this and start wondering whether the bottom is in.
For now, there’s still lots of bad news for the industry, as pointed out by Business Standard - Sugar industry on the verge of a disaster. But sugar stocks have rebounded, even as the Indian markets have corrected.
Finally, an article today in the Economic Times - Bajaj Sevashram crucial in family saga - talks about the Bajaj family feud, but also highlights the battle for a larger stake in Bajaj Hindustan. I wonder if the insiders in this industry know something we don’t.
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