Shardul Kulkarni of Angel Broking is of the view that, VIP Industries is expected to rally towards Rs 72-73 levels, which is the good range to book some profits.
Kulkarni told CNBC-TV18, "VIP Industries has seen a good strong buying in last couple of trading days. The stock moved sideways post buying and after that today again it has shown the next leg of the up move. I think going forward possibility stock can reach the levels of Rs 72-73 which is about Rs 4-5 from current levels. However, considering that the broader market view is not that optimistic I would say that Rs 72-74 is a good range to book some profits and take some money off the table in case of VIP." AVIP Industries closed at Rs 70, up Rs 7.20, or 11.46 percent. It has touched an intraday high of Rs 71.25 and an intraday low of Rs 63. The stock was trading with volumes of 1,177,682 shares, compared to its five day average of 89,342 shares, an increase of 1,218.17 percent. In the previous trading session, the share closed up 0.56 percent or Rs 0.35 at Rs 62.80.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
