According to technical analysts, TRIVENI ENGINEERING can be bought with the stop loss of Rs160 for the target of Rs. 178-190. The stock is currently trading at a P/E of 55 achieving earnings per share of Rs 3.

Triveni Engineering is one of the leading companies in sugar production and engineered-to-order mechanical equipment manufacturing with three sugar mills located at Khataul, Deoband and Ramkola in the state of Uttar Pradesh.

It is also one of the largest manufacturers of steam turbine up to generating capacity of 15MW.

The management of the company is also striving for future growth of the company and to please its customers with innovative plans and services. Sugar sector is looking strong after the support from government to offer benefits to the sector. The price of sugar declined, but many stocks in this sector are ready to hit 52-week highs. Balrampur Chini is one stock from this sector which can be bought for short term.

On National Stock Exchange, Triveni Engineering has touched 52-week high of Rs 173 and a low of Rs 34.