Stock market analysts have maintained 'buy' rating on Sakthi Sugars Ltd with an intraday target of Rs 98.

According to them, interested traders can purchase the stock around Rs 96-97 with a strict stop loss of Rs 94.50.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 100.

Shares of the company, on Wednesday (Nov 18), closed at Rs 97.20 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 105.70 and a low of Rs 18.10 on BSE.

Sakthi Sugar, one of the biggest makers of Sugar in the country, has a daily capacity of more than 13,500 tonnes of cane crush.

Sakthi Sugar has facilities plants in Tamil Nadu and Orissa.

Sugar made by the company has conformed to worldwide principles of ICUMSA 35 units maximum and hence, has a vast market out of the country.

The company has two big facilities including Ethanol plant and Co-generation plant.

The major reasons for the expansion of sugar fabrication include auto setting plants in its mills, advance research and growth on high yielding and pest resistant range of sugarcane, manufacture of best quality Sugar, mechanized cane growing, methodical farming, clean and hygienic factory site.

The various facilities of the company are situated at Sivaganga, Sakthinagar, and Dhenkanal respectively.