Stay invested in Pipavav Defence: Hemen Kapadia

Hemen Kapadia of KRChoksey Securities told CNBC-TV18, "As of now Pipavav Defence would be a hold. I wouldn’t have a five year view simply because I have data of five years. In this five years it has moved between Rs 30 on the downside Rs 120 on the upside without any directional bias, so honestly speaking we have gone nowhere. As of now it is oversold.""A bounce seems to be on the anvil, so I would suggest a hold with a stoploss of Rs 52," he added.At 15:11 hrs Pipavav Defence and Offshore Engineering Company was quoting at Rs 64.95, down Rs 0.10, or 0.15 percent on the BSE.