Stock market analysts are of the view that investors can sell Shree Renuka Sugars Ltd stock with a target price between Rs 210-205.

According to them, investors can sell the stock below Rs 212 with a strict stop loss of Rs 216.

If the stock fell below Rs 202, it may see more weakness.

Today (Jan 28), the stock opened at Rs 218.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 247.20 and a low of Rs 67.50 on BSE.

After selling the stock, the interested investors can enter the stock again at a low price, for medium or long term prospective.

On Jan 24, the company's board sanctioned bonus issue in the ratio of 1:1, i. e. one free share for every investor holding one share.

In a declaration to BSE, the company said that the record date for bonus issue will be declared shortly. The company's annual general meeting will take place on March 04, 2010.

For the three month period ended December 2009, Shree Renuka Sugars consolidated net profit zoomed 24-folds to Rs 260 crore as against the corresponding period of 2008.

The company's consolidated total income increased to Rs 1,443.7 crore during the quarter ended December as compared to Rs 402.8 crore during the same period of 2008.

On the standalone basis, Shree Renuka Sugars registered a net profit of Rs 194.7 crore for the period under review as against Rs 10 crore during the same quarter last year.