Buy Arvind, target Rs 360: Rakesh Bansal

Rakesh Bansal, VP- R K Global recommends a buy on Arvind with a target price of Rs 360 and a strict stop loss placed at Rs 326. The stock has lost 4 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

Arvind is a high beta stock (1.26) and is trading well above its 50-day, 100-day and 200-day moving average of Rs 307, Rs 289 and Rs 296, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 27.54 and P/B of 3.22.