Buy Bombay Dyeing with stoploss of Rs 404: Chaterjee

Buy Bombay Dyeing with a stoploss of Rs 404, says Siddhartha Chaterjee of Trustline Securities

Chaterjee told CNBC-TV18, "Bombay Dyeing the Wadia owned group is betting big time on real estate and that could be the driver for this company's growth going forward." He further added, "Technically Bombay Dyeing is close to a breakout above Rs 416-420. Yesterday's rise with expanding volumes in a depressed market suggests that the stock could move higher today hence buy Bombay Dyeing with a stoploss of Rs 404 and target of Rs 430."