Max India has target price of Rs 195: Thunuguntla

Max India has target price of Rs 195, says Jagannadham Thunuguntla, Head of Research, SMC Global.

Thunuguntla told CNBC-TV18, "Max India has a day target price of Rs 195. The recent SEBI's takeover code and increasing the limit from 15% to 25% should give a some bump up to the stock because the company is having Warburg Pincus about 14.9%, so they can increase the stake to 24.9% to avoid the open offer, so that should give some activity in the stock in the recent time. The target price of the stock is Rs 195 for the day."