Buy HUL with a target of Rs 472: Vayalar

Vayalar told CNBC-TV18, “I feel GMR Infrastructure is one scrip where good buying is happening and that is happening since last couple of months, but the thing here is it is not really piercing Rs 24 odd levels, because we are seeing the distribution coming back. So it is back to that level of Rs 20 where we are again seeing the cash based buying and we feel keeping a stop loss somewhere close to Rs 18.80 we can expect a good move to Rs 23, but rather than that I feel the best pick for this month at least till the expiry would be Hindustan Unilever (HUL).”

He further added, “HUL is somewhere close to Rs 441 and there is excellent buying and there are dynamics in derivative which simply says that we will see accrued interest coming into this scrip. Obviously it has corrected 130-140 odd points from the top. We have seen the derivatives side the open interest is almost at the 7 month low, but the cash pile up is still going on, so we are expecting good momentum to continue in the derivatives side. Rs 472 as on expiry or at least couple of days before expiry is what we are expecting on HUL.”