Nov 09, 2017 12:29 PM IST | Source: CNBC-TV18

Buy Reliance Industries, Tata Sponge, Britannia: Ashwani Gujral

Ashwani Gujral of advises buying Reliance Industries, Tata Sponge iron and Britannia Industries.

Ashwani Gujral of told CNBC-TV18, "As far as individual stocks are concerned Reliance Industries is a buy with a stoploss of Rs 900 target of Rs 935. Tata Sponge Iron is a buy with a stoploss of Rs 960 target of Rs 995. Britannia Industries is a buy with a stoploss of Rs 4,750 target of Rs 4,900."

"I don’t think yesterday’s news can take Arvind much higher than where it is. That is out of the picture. Now Arvind if it has to find support it has to be near Rs 395-400. Fresh rally will probably take some time in happening. For the moment if you made money if you got around Rs 360 etc. This is probably still the time to book profit."

"Jayant Agro-Organics should be sold. It is almost at 200-day moving average but maybe I would still go with Heritage Foods or Avanti Feeds, those are better agri style companies than Jayant Agro."

"Chances are Reliance Capital could go even lower because now becoming a holding company. Anyway the stock chart hasn’t been looking positive for the last three or four months, so maybe it is a good idea to get out of capital and get into Reliance Industries which at some point will resume its rally and probably make fresh highs," he added.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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