Buy Raymond, to jump 40%: Gautam Chhaochharia

Gautam Chhaochharia of UBS India told CNBC-TV18, "We like  Raymond, it's a buy for us. The price target is almost 40 percent plus upside from current levels. The reason for liking this stock is that the brand is very strong. The company is finally putting in place a strategy to really monetize the strength of the brand including the manufacturing side as well as on the distribution side in terms of focus purely on the Raymond brand rather than looking at too many other brands as well as in terms of the Raymond store."

He further added, "That should throw up in terms of improving margins as well as in terms of capital employed over the next few years and the stock is anyway attractive in multiples. So that is definitely a stock that we like."