Stay invested in Hathway Cable, says Jagannadham Thunuguntla of SMC Global Securities.
Stay invested in Hathway Cable , says Jagannadham Thunuguntla of SMC Global Securities.
Thunuguntla told CNBC-TV18, "Hathway Cable is one of those news-driven kind of stocks. Whenever there is news about FDI, anything related to that, generally this stock tends to perform very big bounce. There were days on the intraday basis itself the stock has 15-18 kind of bounces. I think one can stay invested. So one should be patient, six months whenever you find these kind of bounces close to Rs 190-200 levels, one can book one’s profits."
The company touched its 52-week high Rs 193.80 and 52-week low Rs 72.00 on 13 Feb, 2012 and 06 Sep, 2011, respectively. Currently, it is trading -14.58% below its 52-week high and 129.93% above its 52-week low. Market capitalisation stands at Rs 2,365.00 crore.
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