Buy Nahar Spinning Mills Ltd., target Rs 130 : Nirmal Bang Securities

Nirmal Bang Securities has a buy call on Nahar Spinning Mills Ltd. with a target price of Rs 130. The current market price of Nahar Spinning Mills Ltd. is Rs 121.9. Time period given by analyst is Intra Day, when Nahar Spinning Mills Ltd. price can reach defined target.

Nirmal Bang Securities recommended to keep stop loss at Rs 117. The stock has slipped 5 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

Nahar Spinning is a low beta stock (0.84) and is trading well above its 50-day, 100-day and 200-day moving average of Rs 112.7 Rs 102.51 and Rs 106.99, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 8.88 and P/B of 0.59.
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