Hold MBL Infrastructures, says Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "I would say that MBL Infra seems to be bottoming out. However, still we would be able to say with confidence that it is embarking on a face up trend only when it takes out the potential supply zone between say Rs 30 and Rs 35. Once that happens, then we can give fresh higher targets. I would suggest that one should continue to hold on to the position."

At 15:22 hrs MBL Infrastructures was quoting at Rs 26.65, down Rs 0.55, or 2.02 percent.

The share touched its 52-week high Rs 62.10 and 52-week low Rs 20.80 on 19 January, 2017 and 09 August, 2017, respectively.

Currently, it is trading 57.09 percent below its 52-week high and 28.12 percent above its 52-week low.