Sintex Industries may go upto Rs 70-75: Thununguntla

Jagannadham Thununguntla, Strategist & Head of Research, SMC Global Securities Limited feels that Sintex Industries may go upto Rs 70-75.

Thununguntla told CNBC-TV18, "Generally I am not a big fan of averaging, but Sintex considering the kind of fall and the price at which it is trading probably it is worth looking at doing an averaging at this point. I feel a move towards Rs 70-75 is possible. Even in the last quarter results there is an indication that probably that company is in the process of turnaround. If you give one or two quarters more probably all that turnaround will get eventually worked out, meaning thereby at this price probably you can take a chance with averaging.”