The demand for denim is picking up again, and Arvind Mills is currently trading near its year's lows. I reckon it's time to start buying this stock again. Arvind Mills is a frontline stock in the textiles sector and has posted an eps of Rs. 5.40 for the year ended, March, 07. There was a time when Arvind Mills used to trade at a PE of even 20, but currently trading at a PE of only 8. The delivery volumes for yesterday were a very high 69%. Technically also this stock looks ripe for an upmove, with immediate targets of 55 and then 68. For long term investors the targets can be over 100 also. Cheers!
PS: I continue to like SRF Limited, Salona Cotspin (bse) and FCS Software. These are at the top of my buy list.
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2 comments:
Hi all,
Arvind Mills has risen nearly 20% since I gave a buy call on it some weeks back. Fast approaching my first target of 55, mentioned in my initial reco post. Cheers!
Dear Superstar,
What is your take on Supreme Petro. When do you think it will start moving
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