Buy Max India, says Siddhartha Chatterjee

Buy Max India, says Siddhartha Chatterjee of Trustline Securities.

Chatterjee told CNBC-TV18, "Max India is one of the best managed private insurance company in India and recently the private equity arm of Goldman sacks picked up about 9% stake through conversion of convertible debentures at a price of Rs 216.75 which it substantially had in the current market price."

He further added, "In the last few trading sessions the stock managed to breakout from a range and qualifies for a momentum play. This is accompanied by expanding volumes and that is suggesting there is a valid breakout. Max India can be bought with a stoploss of Rs 188 and target of Rs 200 plus."