Moneycontrol
May 11, 2013 02:48 PM IST | Source: CNBC-TV18

Buy IndusInd Bank: Sudarshan Sukhani

One can buy IndusInd Bank, says Sudarshan Sukhani of s2analytics.com.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "IndusInd Bank keeps on making these lifetime new highs. There is nothing to stop it from doing so and we as technical traders have to be on the side of smart money."

He further added, "We should be buying IndusInd Bank and how do we buy it? We buy it when there is a small narrow range intraday or on a daily basis. Whenever the stock contracts for a few hours there is a momentum buying opportunity. These are short-term trades but I would be a buyer here."

At 12:14 hrs IndusInd Bank was quoting at Rs 507.80, up Rs 2.05, or 0.41 percent. It has touched a 52-week high of Rs 509.05.

The company's trailing 12-month (TTM) EPS was at Rs 20.29 per share. (Mar, 2013). The stock's price-to-earnings (P/E) ratio was 25.03. The latest book value of the company is Rs 87.30 per share. At current value, the price-to-book value of the company was 5.82. The dividend yield of the company was 0.43 percent.

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