Prefer Arvind over Bata: Mehraboon Irani

Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, "Bata India has been an investment bet for us. I would prefer Arvind over Bata because I have been having a very positive bias towards most textile stocks for the last 15 months and most of them have appreciated 200-300 percent and Arvind according to me is a relative underperformer. So, maybe it could be a decent bet in this whole textile space which has given super returns to the investors in the last one year but in Bata at the present level there is no further incremental money."On Thursday, Arvind closed at Rs 319.70, up Rs 15.30, or 5.03 percent. It has touched an intraday high of Rs 323.60 and an intraday low of Rs 304.