Gitanjali Gems has target of Rs 323: Thununguntla

Gitanjali Gems has target of Rs 323, says Jagannadham Thununguntla of SMC Global.

Thununguntla told CNBC-TV18, "Gitanjali Gems has very strong brand and household name. In the gems and jewellery business the company has been doing very aggressively."

He further added, "The stock is also trading at reasonable valuations of 10-12 PE multiple and at this valuation I think the company will make a good bet even for the medium-term. The stock should reach about Rs 400-450 in the medium-term and the stock is selected with a day target of Rs 323."

Click HERE to know the rules and follow the score card