Buy Arvind with a target at Rs 310: Kunal Saraogi

Kunal Saraogi, CEO, Equityrush.com recommends a buy rating on Arvind with a target price of Rs 310 and a strict stop loss placed at Rs 295 in intra-day trade. The stock has gained 6 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

Arvind is a low beta stock (0.97) and is trading well above its 50-day, 100-day and 200-day moving averages at Rs 273.27, Rs 293.57, and Rs 290.67 respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 24.57 and P/B of 2.83.