Feb 22, 2013, 06.14 PM IST | Source: CNBC-TV18

Buy MindTree around Rs 810, says Kulkarni

One can buy MindTree on dips around Rs 810, says Shardul Kulkarni of Angel Broking.

One can buy MindTree on dips around Rs 810, says Shardul Kulkarni of Angel Broking.

Kulkarni told CNBC-TV18, "MindTree would be one stock wherein I would look at buying into the counter, but I would prefer to buy it on decline. On the lower side around Rs 810 that would be a comfortable level to go long in case of MindTree. Other than that, Hexaware Technologies at lower levels not at the current price gives a good opportunity because overall we feel that rupee will depreciate further going forward. We expect the rupee to cross 55.5 over the next seven to ten trading sessions. If the rupee crosses 55.5 over the next ten trading sessions, IT will be a great bet going forward."

MindTree's trailing 12-month (TTM) EPS was at Rs 36.14 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 23.72. The latest book value of the company is Rs 229.98 per share. At current value, the price-to-book value of the company was 3.73. The dividend yield of the company was 0.47%.

Disclosure: We have recommended the stock to our clients and we may have positions.

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