Buy GPPL, target Rs 182: Pritesh Mehta

Pritesh Mehta, Head Technical Research at IIFL, recommends a buy on GPPL with a target price of Rs 182 and a strict stop loss placed at Rs 157. The stock has gained 9 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

GPPL is a low beta stock (0.13) and is trading well above its 50-day, 100-day and 200-day moving average of Rs 163.20, Rs 161.98 and Rs 164.24, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 33.77 and P/B of 4.48.