Buy Lanco Infratech on dips: Hemant Thukral

Buy Lanco Infratech on dips, says Hemant Thukral of Aditya Birla Money.

Thukral told CNBC-TV18, "I expect with Nifty consolidating, midcap stocks which have started to outperform may continue the rally for one or two sessions here. Lanco Infra specially because yesterday all infrastructure stocks saw buying but Lanco has seen good open interest added up on the long side and till the time its holding above Rs 13 mark it has quite a chance to go back up to Rs 14.80-15 levels. So if one gets a dip today then should buy but keep a trading stop loss of Rs 13 and a target of Rs 14.80-15 on it."
The share touched its 52-week high Rs 30.20 and 52-week low Rs 8.50 on 20 Jun, 2011 and 19 Dec, 2011, respectively.
 
Currently, it is trading -54.01% below its 52-week high and 63.41% above its 52-week low.
 
Market capitalisation stands at Rs 3,344.44 crore.