Avoid Jaiprakash Associates, says Jai Bala

Bala told CNBC-TV18, "Last week when I put a sell note on Sesa Goa I was deciding between Jaiprakash Associates and Sesa Goa. JP Associates is set to decline to about Rs 48 odds, but right now it is oversold in the extreme short-term, but that doesn’t mean the stock was set to bounce, but you are better off avoiding the stock here. If you are not a speculator avoid the stock, but if you are a speculator you can try to position yourself for a short and a small bounce."

The share touched its 52-week high Rs 88.90 and 52-week low Rs 50.45 on 03 Apr, 2012 and 09 Jan, 2012, respectively. Currently, it is trading -29.02% below its 52-week high and 25.07% above its 52-week low. Market capitalisation stands at Rs 13,417.79 crore.

The company's trailing 12-month (TTM) EPS was at Rs 5.48 per share. (Jun, 2012). The stock's price-to-earnings (P/E) ratio was 11.51. The latest book value of the company is Rs 48.07 per share. At current value, the price-to-book value of the company was 1.31. The dividend yield of the company was 1.27%.