Buy Varun Industries with target of Rs 235: Rajesh Agarwal

Buy Varun Industries with a target of Rs 235, says Rajesh Agarwal, Head of Research at Eastern Financiers.

Agarwal told CNBC-TV18, "One can buy Varun Industries with a stop loss of Rs 204 and a target of Rs 235. This company which basically was into steel has found lot of rare minerals in Madagascar, which has a mine life of around 40 years, of course this new finds would add to the bottomline from FY13 but currently also it is trading at less than 10 PE of FY12 earning which we feel is highly undervalued, so one can buy this." Click HERE to know the rules and follow the score card