Selan Exploration has target of Rs 358: Gaurang Shah

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Selan Exploration has target of Rs 358: Gaurang Shah

Selan Exploration has target of Rs 358, says Gaurang Shah, Geojit BNP Paribas Financial Services.

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Excerpts from Power Breakfast on CNBC-TV18 Watch the full show » ALSO READ See previous views by Gaurang Shah See what other Experts & Brokerages are saying about Selan Explore See messages about Selan Explore Selan Explore BSE | NSE 10/02/12 Are Mutual Funds betting on Selan Explore?

Selan Exploration has target of Rs 358, says Gaurang Shah , Geojit BNP Paribas Financial Services.

Shah told CNBC-TV18, "Selan Exploration as far as the numbers goes on the fundamentals side, just to throw a bit of light did not be as comfortable and the market did punish this particular stock to a great extent after the kind of correction that we witnessed. We feel that the stock has bottomed out and going forward with a kind of capex plans that the company has got and of course the investment going forward, this stock could be a multibagger and even reaching four figure from a medium to long-term base."

He further added, "From a short-term point of view, this stock is ripe enough to give a bounce back. On Selan we are looking at a price target of about Rs 358 with a stop loss of about Rs 335."