Apr 30, 2012, 06.20 PM | Source: CNBC-TV18
Buy Arvind, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.
Hemant Thukral (more)
National Head- Derivative Desk, Aditya Birla Money | Capital Expertise: F&O
Thukral told CNBC-TV18, "Arvind has seen lot of long open interest being built up, so definitely some buying coming in. Importantly, it has closed above Rs 83-84 mark, which was acting as a stiff resistance for it. So for me till it holds above Rs 82.50, that’s the stoploss one should keep, there are chances that stock can outperform its peers and can move up towards Rs 88-89. So I think one should buy Arvind at every dip now."
The company touched its 52-week high Rs 111.15 and 52-week low Rs 61.90 on 01 Nov, 2011 and 19 Aug, 2011, respectively. Currently, it is trading -22.36% below its 52-week high and 39.42% above its 52-week low. Market capitalisation stands at Rs 2,226.91 crore.