TV Today Network has target of Rs 156

Anil Manghnani of Modern Shares & Stock Brokers is of the view that TV Today Network has target of Rs 156.

Manghnani told CNBC-TV18, "TV Today seems to be in a fresh breakout, little bit of news based with the Anil Ambani Group, the Fund or Reliance Capital taking a stake in the company, that’s definitely positive. But the way it moved on Thursday with volumes, it’s definitely a fresh breakout. I will hold on to it. The first target would be around Rs 156 and I won’t be surprised if it eventually goes and touches close to the all time highs somewhere around Rs 175-180. So still a lot of upside and you may hold on to it."

He further added, "Arvind Mills unfortunately, I still think it’s a bounce. The play in Arvind Mill has been similar to sugar, over the last one year the way stock has fallen off and just when it looked like it was getting back, trading above Rs 60 the fall to Rs 49, I guess again because of the curve in the F&O segment, that has really done damaged. For the stock to really start a fresh move maybe Rs 63-64, it needs to start trading above that otherwise I will just look at it as a trading bounce for now."