Expect Videocon to touch Rs 240-250 in medium-term: Tater

Aashish Tater, Head of Research at Fortunewizard.com says they have a target of Rs 240 to Rs 250 from medium-term perspective on Videocon Industries.

Tater told CNBC-TV18, “We have a target of Rs 240 to Rs 250 from medium-term perspective on Videocon Industries and ultimately Rs 300. The investor must have been caught around the bull run of 2007 when this particular stock hover around Rs 600 mark. I do not remember that this stock touched Rs 800 so at Rs 800 this is quite a big loss that he is looking at and now there is no hedging option for him. I think the investor can hold or average a little bit. So some portion of his loss can be covered around that Rs 250-Rs 260 zone.”