Accumulate Pipavav Shipyard: VK Sharma

Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Pipavav Shipyard can touch Rs 70: Gujral ALSO READ See previous views by VK Sharma See what other Experts & Brokerages are saying about Pipavav Defence See messages about Pipavav Defence Pipavav Defence BSE | NSE 10/02/12 Are Mutual Funds betting on Pipavav Defence?

Accumulate Pipavav Shipyard , says VK Sharma of HDFC Securities.

Sharma told CNBC-TV18, "Pipavav Shipyard went up to a low of Rs 50 and at around Rs 58-59 currently it is near the issue price. I think now it is the time when we can look at the kind of defense orders that can happen, considering the fact that it can build the longest ships. It can also build ships worth 4 lakh DTW so from that perspective defense orders could be there."

He further added, "With a year's horizon one can accumulate the stock from the current levels of Rs 59 to maybe around Rs 55 odd."

At 14:24 hrs the share was quoting at Rs 59.55, down Rs 0.35, or 0.58% with volumes of 323,783 shares. Market capitalisation stands at Rs 3,964.83 crore.

The company touched its 52 week high Rs 64.70 and 52 week low Rs 47.65 on 09 Oct, 2009 and 20 Oct, 2009, respectively. Currently, it is trading -7.96% below its 52-week high and 24.97% above its 52-week low.

Disclosure: Analyst doesn't hold the above stock.