Remain invested in Eveready Industries: Thununguntla

Jagannadham Thununguntla, Strategist & Head of Research, SMC Global Securities advises to remain invested in Eveready Industries.

Thununguntla told CNBC-TV18, “Investor can stay invested in Eveready Industries. Even today there was news that the company has increased its prices on the products. That may auger well, it indicates that the pricing power of the company is still intact. After seeing what happened to the midcaps it is understandable to see nervousness among investors but point is that sometimes holding on makes sense.”
He further added, “If Nifty drifts down towards 5200 that is 200 points down, some of these midcaps have already corrected much more than that. The damage in many of these midcaps is coming to an end. No point in selling at this point otherwise she may end up selling at the lowest point of the band.”