Buy Greenlam Industries, says Jagannadham Thunuguntla

Jagannadham Thunuguntla, Head of Research at Karvy Stock Broking told CNBC-TV18, "Greenlam Industries is a household brand name, it will be a beneficiary of overall construction demand that is upcoming. So the company has been doing reasonably well, margins are good, the company has little bit higher debt side but we are sure that over the period of time, it will be repaid and we have a buy on that company. We have a target of about Rs 475-480 on this stock."At 13:23 hrs Greenlam Industries was quoting at Rs 410, down Rs 5, or 1.20 percent.