Orbit Corporation can test Rs 72, says Anil Manghnani, Modern Shares & Stock Brokers.
Manghnani told CNBC-TV18, "Real estate is not one of my favourite packs, but since there is momentum I tried to pick Orbit Corp in that. I think at Rs 60 it has given a fresh breakout yesterday. So with a stoploss of maybe Rs 56 I believe it will re-test the recent high which was made in October of Rs 65 and then probably head to about Rs 72."
The share touched its 52-week high Rs 68.90 and 52-week low Rs 25.00 on 22 February, 2012 and 20 December, 2011, respectively. Currently, it is trading 10.67% below its 52-week high and 146.2% above its 52-week low. Market capitalisation stands at Rs 701.44 crore.