Britannia can give good risk reward, says Amit Gupta

Amit Gupta, Head - Derivatives at ICICIdirect told CNBC-TV18, "I think Godrej Industries from the Futures and Options (F&O) space could be one stock where a lot of hidden value is there because the stock had not moved up so far. It remained around Rs 360-370 for quite a long time. In fact it spent almost seven-eight months here and during this period it has seen a lot of intermediate profit booking in the market.""It is a holding company of Godrej Consumer Products and Godrej Properties. So both these stocks are buzzing whether its fast moving consumer goods (FMCG) space or real estate space. Therefore, considering this, we can look at Godrej Industries in F&O space, which can move towards Rs 420 or Rs 430 levels. The reason being that open interest (OI) was very low in the stock, it had come down to multi-month low and now from where it has started picking up. So there is enough headroom for the stock to continue to move on the higher side," he said."However, from the FMCG space, we can look at Britannia Industries because this is another stock which was not performing so far in the last few series but whenever it was coming down to Rs 2,525.50 level, we were seeing some buying emerging and yesterday we saw 5-6 percent of open interest closure. So from the FMCG space, if you are looking at any short covering candidate then Britannia Industries can give a good risk reward at these levels. It can move up towards Rs 3,900 also on the higher side," he added.