Sep 16, 2013, 05.54 PM | Source: CNBC-TV18
Nooresh Merani of AMSEC Research recommends holding Sintex Industries as the stock may bounce back to Rs 30-35.
Nooresh Merani (more)
Technical Analyst, Asian Market Sec | Capital Expertise: Equity - Technical
"Given the fact that it is out of derivatives from hereon there could not be any short pressure, so from current levels maybe one could see a bounce back to Rs 30-35 where one can revive whether one can hold on to the stock or not. At current levels it could be a hold," he added.
On September 16, Sintex Industries closed at Rs 23.15, down Rs 0.20, or 0.86 percent.
The share touched its 52-week high Rs 75.60 and 52-week low Rs 16.90 on 12 October, 2012 and 04 September, 2013, respectively. Currently, it is trading 69.38 percent below its 52-week high and 36.98 percent above its 52-week low. Market capitalisation stands at Rs 724.85 crore.
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