As per view of technical analysts, SAKTHI SUGAR, which ended the day at Rs 75 on Friday can be purchased at current market price. The stop loss for this counter is Rs 73 for a target of Rs 78-80.

The group’s principal activities are to manufacture and market crystal sugar, industrial alcohol, iron castings, soya products, sunflower oil, molasses, fertilizers, chemicals, seeds, bio earth and other industrial products.

The plants of Shakti Sugar are located in Tamil Nadu and Orissa.

The management of the company is having robust plans for future positive growth of the company. The results for the last quarter were not good due to decline in prices of sugar. But as the government has announced some benefits for sugar sector, the stock may remain strong for next 2 – 3 months.

The other stocks from the sugar sector are also looking good at current prices which includes Balrampur Chini, EID Parry, Bajaj Hindustan and Triveni Engg.

On National Stock Exchange, the stock has touched 52-week high of Rs 167 and a low of Rs 58.