Renuka Sugar Share Price
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Renuka Sugar has now doubled since the time we initiated our Buy around 7-8 Rs and today the stock price has already crossed 15Rs the stock is up 11.85 percent as of now. As per our analysis of Renuka Sugars we reiterate our outperform / overweight / multi bagger rating on the stock with a view that the Renuka Sugar share price is yet to enter super bullish phase and we are only seeing the beginning of the beginning or rather we are at the inception point of a massive bull run that has started in sugar sector both globally and in the Indian context. We expect the share price to continue giving phenomenal returns and we expect the stock price even from here to given 5 X returns. We expect this to happen by 2019 and we strongly feel any dip in the stock even on a hourly basis must be used to Buy / Accumulate the stock as we do not expect any significant time wise halt for the up / bullish move that has already begun.
If we go back and see we have been very bullish on the sugar sector since past three months and we have been continuously recommending that buy at every price as we see a major 30 year cycle bottom in place sugar stocks and international raw sugar prices. We expect International raw sugar prices to firm up further and eventually reach 42$ currently International raw sugar 15.18 and in India we expect retail sugar prices to touch 108 Rs / KG. Hence higher raw sugar prices will help boost the profitability of the company significantly. Further we expecting Govt of India to do partial loan waiver as even right now there are piles of debt the company has due to mispricing or forced Govt pressures that has caused the company to be in such a situation. The Brazil operations also will get a boost more details I shall share on Brazil operations later.
Reiterate Buy on dips and Hold for 5 X targets from here as we have been predicting that International raw sugar has confirmed that a 30 year low is in place and now we are headed up as of now the baby has just been conceived yet to grow and yet to be born still huge value and upside in the stock / share price will be seen going forward.
Good Trading To You!