Arvind can touch Rs 140: Manghnani

Arvind can touch Rs 140, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "Arvind had a major resistance at Rs 93-94 couple of months back. I was surprised the way it collapsed all the way to Rs 60 but having come back so fast to Rs 94 or 96 even with the fact that the market is way below what it was when Arvind was trading at Rs 94 a couple of months back, the market was at 5700. So it is commendable that 4900 it is back to Rs 94 levels."
He further added, "I think on a longer time frame very similar to what Chambal did when it broke out at Rs 90 and went to Rs 120. I think even Arvind could do that sort of move where it is probably headed to Rs 140 if you are taking a little longer horizon."