Result update: BLS Inter. Stock in accumulate range for medium term.
We had recommended BLS Inter from range of 235-240 for a target of 280 and 320. Stock had hit 300 before the stock had dipped due to market volatility and has hit stoploss of 220, and is trading below 190.
Recent quarterly results have also not been so good. The fair Price is around 200 now.
It is advised to hold the stock if you are holding with SL of 170. Stock will range 175-220 this quarter.
We are positive on the stock to post good results in the coming quarters. On good results, stock can move back to 300+ levels in less than a year.
Fresh buy on dips and hold for 6 months. SL 170. Target 300. 1 year. (Time will be revised on coming quarterly results.) You can also wait for next quarterly results to enter the stock.