Short Gitanjali Gems, says Aashish Tater

Short Gitanjali Gems, says Aashish Tater of Fort Share Broking.

Tater told CNBC-TV18, "I would like to short Gitanjali Gems. One stock where I was quite bullish for some time but looking at its enterprise value and debt levels, I think this particular stock does not immediately require any rerating in terms of upper band. But can see a significant downside because the US and UK where it has export exposure is going through its own problems and this particular stock can be downgraded for a target close to Rs 220-230 levels and we have an intra day target of close to Rs 300 on the same stock." Disclosure: do not have a personal holding but may have recommended the stock to clients. Click HERE to know the rules and follow the score card