Stock market analyst Salil Sharma is of the view that investors can buy Shree Renuka Sugars Limited stock to achieve an intraday target of Rs 65.

According to analyst, the investors can buy the stock with stop loss of Rs 61.

The shares of the company, on June 08, closed at Rs 62.65 the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 123.60 and a low of Rs 53 on BSE.

Shree Renuka Sugars, which previously this year stated that it was getting hold of a majority equity stake in a Brazilian company, on May 03 declared that it is reconstituting its projected acquisition deal of Equipav.

In February 2010, Shree Renuka announced that it had purchased a 50.79% equity stake in the company for $329 million. This however, was subject to the authorization of an acceptable debt restructuring package by Equipav's lenders.

Shree Renuka engages in fabrication and market of sugar. It also offers power generation and ethanol production.

The Group runs through four sections including Sugar, Trading, Co-generation, Distillery and Other.