Lupin can go upto Rs 602: Jitendra Panda

Jitendra Panda, Future Capital is of the view that Century Textiles has target of Rs 440. “Lupin can go upto Rs 602.”

Panda told CNBC-TV18, “We have seen a lot of volatility in cement sector. Among the stocks Ambuja looks goods, but at this juncture it is wait and watch. Century Textiles is what we are recommending among the midcap stocks, Rs 420 for stop loss Rs 440 could be the target where you could look at and see this business doing well. But then it is more of a buy on dips.”
 
He further added, “Pharma stocks are again picking up after remaining little sidelined, although we have been seeing action on and off. Lupin is one where we are doing a contrarian bet, buying at lower levels for expiry. So we believe that Lupin could be bought with Rs 602 as the target and keep a stop loss at Rs 570. We are seeing some action again building up there, so this sector could do well. Even if the market corrects, this is the sector which can take upside. So Lupin is another stock where we are betting for the expiry where we could get Rs 602 as our target on Lupin.”