Buy Subex at current level: Baliga

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Buy Subex at current level: Baliga

Ambareesh Baliga of Karvy Stock Broking is of the view that one can buy Subex at the current level of Rs 125-126. We have been buying Sasken. We bought that stock closer to around Rs 110-115 levels because we had a target price of closer to around Rs 175-180, he added.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » RELATED NEWS Subex can bounce back to Rs 200-225: Baliga Subex may test Rs 275-300: Baliga ALSO READ See previous views by Ambareesh Baliga See what other Experts & Brokerages are saying about Subex See messages about Subex Subex BSE | NSE 28/05/12 Are Mutual Funds betting on Subex? Other Stocks in this news Sasken Communication Technologies |

Ambareesh Baliga of Karvy Stock Broking is of the view that one can buy Subex at the current level of Rs 125-126.

Baliga told CNBC-TV18, "We have been buying Sasken . We bought that stock closer to around Rs 110-115 levels because we had a target price of closer to around Rs 175-180. The levels were reached some time back when they had announced the buyback. But then on a day like this, when we have got a return of close to around Rs 40-50 on this stock, we have started booking profits."

He further added, "At the same time, we are continuing to buy a stock like Subex, which we were buying at Rs 110-115 levels. Even at the current levels of around Rs 125-126, we continue buying this stock."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.