Buy HDIL, target Rs 110: Gaurav Bissa

Gaurav Bissa, Derivatives Analyst, LKP Securities recommends a buy rating on HDIL with a target price of Rs 110 and a strict stop loss placed at Rs 96. The stock has gained 27 per cent so far in the calendar year 2016. The stock is looking bearish on the charts.

HDIL is a low beta stock (0.98) and is trading well above its 50-day, 100-day and 200-day moving averages placed at Rs 80.64, Rs 74.89 and Rs 72.26, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 17.12 and P/B of 0.83.