Buy Granules India, target Rs 153: Rakesh Bansal

Rakesh Bansal, VP- R K Global recommends a buy rating on Granules India with a target price of Rs 153 and a strict stop loss placed at Rs 124.50. The stock has lost 7 per cent so far in the calendar year 2016. The stock is looking bearish on the charts.

Granules India is a high beta stock (1.11) and is trading well above its 50-day, 100-day and 200-day moving averages at Rs 126.52, Rs 122.29 and Rs 130.99, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 24.87 and P/B of 6.54.