Buy Britannia Industries Ltd., target Rs 2950: Ashish Kyal

Ashish Kyal of Waves Strategy Advisors has a buy call on Britannia Industries Ltd. with a target price of Rs 2950. The current market price of Britannia Industries Ltd. is Rs 2860.45. Time period given by analyst is Intra Day, when Britannia Industries Ltd. price can reach defined target. Ashish Kyal recommended to keep stop loss at Rs 2790 The stock has lost 4 per cent so far in the calendar year 2016. The stock is looking bullish on the charts. Britannia Industries is a low beta stock (0.36) and is trading well above its 50-day and 100-day moving average of Rs 2777 and Rs 2761 but below its 200-day moving average of Rs 2858, as per data collated by ETMarkets.com. The stock is trading with a P/E of 45.8 and P/B of 27.6..