Pipavav Defence remains in limelight

Pipavav Defence has been breaching the upper circuit consistently since 9th Oct. Today, in early morning trades, it was amongst the top five gainers on the BSE and currently is almost 4% up at Rs.44.85, with an intra day high at Rs.45.30.

The stock has been in the limelight for the past couple of days on unconfirmed rumours doing the rounds that the company is being seen as a takeover target. In our Market Whispers column, it has been stated that some three strong contenders are seen in the race for this defence equipment manufactures, having hi tech infrastructure and global technology tie up. If this happens, the stock could turn into a multi bagger over the next 24 months. Our Editor, Mr.SP Tulsian had advised buying at Rs.41 for those, who can buy with conviction, with view of 12 months and without seeing its daily volatility or quarterly numbers.