Buy Arvind, target Rs 332: Swati Hotkar

Swati Hotkar, technical research analyst at Nirmal Bang Securities recommends a buy rating on Arvind with a target price of Rs 332 and a strict stop loss placed at Rs 313. The stock has lost 10 per cent so far in the calendar year 2016. The stock is looking bearish on the charts.

Arvind is a high beta stock (1.31) and is trading well above its 50-day, 100-day and 200-day moving averages at Rs 284.14, Rs 289.70 and Rs 290.71, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 26.01 and P/B of 3.03.