Hold Lovable Lingerie To Achieve Target Of Rs 325

Hold Lovable Lingerie To Achieve Target Of Rs 325Technical analyst Rajesh Agarwal of Eastern Financiers Ltd is bullish on Lovable Lingerie Limited and has maintained 'hold' rating on the stock with a target of Rs 300-325.

Mr. Agarwal said that the stock can achieve the said target in a period 2-3 months.

Women's inner-wear manufacturer Lovable Lingerie debuted on the stock markets today.

The company got listed at a premium of more than 27% on the BSE as compared to the issue price of Rs 205.

Lovable Lingerie's scrip belled the day at Rs 261.50 on the BSE, showing an increase of 27.56% as against its issue price, today morning.

Within few minutes after listing, the company's stock hit an early peak of Rs 278.95 on the stock exchange.

In addition, the stock of the company began the day at Rs 240 on the NSE , up 17.07%.

Lovable Lingerie had determined a price band of Rs 195-Rs 205 per share for its Rs 93.27 crore IPO.

The funds lifted via the initial public offering will be used for establishing added manufacturing capacity at its Bangalore division, brand building and brand growth for the company's College Style brand.