Bullish on Arvind, recommend buying on declines: Deven Choksey

In a chat with ET Now, Deven Choksey, MD, KR Choksey Securities shares his view on Arvind:

ET Now: Any thoughts why Arvind has done exceptionally well of late?

Deven Choksey: Arvind is correcting part of their earlier strategy. They are bringing back complete value chain manufacturing in the country back from what they started in Bangladesh.

Market is giving a kind of a positive weightage to this particular stock because in the market, you require listed market phase, you require some of the quality names where you can bet on. This is one company which one could possibly see a brighter future going forward.

ET Now: What could be that lower level 130, 120 or sub 100?

Deven Choksey: Somewhere between 120-130 could be the level in which the stock should be once again considered to add into the portfolio.