Sweet stocks fall 60% at 52-week high … right time to buy? – 5 sugar stocks retrace up to 60% from 52-week highs. right time to accumulate?

by time news
Sugar stocks have been declining for almost a month following the imposition of excise duty on sugar exports by the Government of India (GoI). Tambur Sugar Mills, Mawana Sugars, Dwarikesh Sugar Industries, Sri Renuka Sugars, EIT Barry and other quality sugar stocks have recovered sharply from their respective 52-week highs.

Investors looking for stocks to earn attractive returns can look at the following 5 sugar stocks.

1]Tambur Sugar Mills: Shares of this sugar company are currently trading at Rs.213.50 per Nifty. At the same time, its 52-week high of Rs 584.50 per share. Therefore, the stock price of tambour sugar is available at a discount of more than 60 percent today. The sugar has a 52 week low of Rs 198.30.

2]Mawana Sugars: The share price of this sugar company is currently touching Rs.95.50 in Nifty. Whereas its 52 week high is Rs.179.70. Shares of Mawana Sugars are at a 52-week low of Rs 59.55. Thus, the sugar stock has adjusted more than 45 percent since its 52-week high. At the same time, it is trading above its 52-week low of Rs 46. It is also one of the sugar stocks that will bring strong returns to its shareholders by 2022.

3]Dwarikesh Sugar Industries: The shares of this sugar company are one of the stocks that gave the best returns to the shareholders in 2022. However, in recent sessions it has suffered a sharp decline. Duvarikesh Sugar shares are currently trading at Rs 95.80 and a 52-week high of Rs 148.45. Therefore, this sugar stock is available at a discount of 35% from its 52-week high price.

4]Sri Renuka Sugars: After its 52-week high of Rs 63.20 against the Nifty in April this year, the sugar stock has largely corrected. Renuka Sugar shares are currently trading at Rs 44.60. It is down about 30 percent from its 52-week high. However, despite the drastic correction, this sugar share is 46 percent higher at YTD time.

5]Balrampur Cine: The share price of this sugar maker has been heavily adjusted in recent sessions. In the last one month, the price of Balrampur Cine share has fallen from Rs 413 to Rs 357. It has recorded a decline of about 13 per cent during this period. Shares of sugar in the Nifty are at a 52-week high of Rs 525.90. That means the stock is currently down 32 percent from its 52-week high.

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