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Buy Grasim Industries, says Sanjay Vaid

Buy Grasim Industries, says Sanjay Vaid of SBI Capital.

September 26, 2011 / 13:38 IST
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Buy Grasim Industries, says Sanjay Vaid of SBI Capital.

Vaid told CNBC-TV18, "Grasim Industries is one of the very few stocks which are still trading above 200 day moving averages. The open interest of the stock has gone up by 11% with the cost of carrying improving, which clearly shows that there is a long built happening in the stock." He further added, "Its chemical business also is doing very well given that the caustic soda prices are going up. Even if you are giving a holding company discount to the company then stock is still available at attractive valuation of less then 10 times FY12 earnings. Therefore we feel that stock can easily go towards Rs 2430 level in the shorter time. Therefore we are giving a buy recommendation in Grasim with a target price of Rs 2430 and a stop loss of Rs 2320."
first published: Sep 26, 2011 12:58 pm

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