Hold Jain Irrigation with target of Rs 82: Thununguntla

Jagannadham Thununguntla, Strategist & Head of Research of SMC Global Securities Limited is of the view that one can hold Jain Irrigation Systems with a target of Rs 82.

Thununguntla told CNBC-TV18, “There was a time when Jain Irrigation was a blue head boy for many funds. Many mutual funds and hedge funds used to have it as their priority item but now considering that all the problems are Non-bank financial company (NBFC) related, the stock got sold off. Now I feel at least Rs 82 can easily be reached in the next wave of rally. You can hold on. You may be tested for three-four months but eventually Rs 82 level should be reached.”