Buy Piramal Life Sciences on declines: Chouhan

Excerpts from Markets Midday on CNBC-TV18 Watch the full show » ALSO READ See previous views by Shrikant Chouhan See what other Experts & Brokerages are saying about Study Abroad See messages about Study Abroad Piramal Life BSE | NSE 10/02/12 Are Mutual Funds betting on Piramal Life?

Buy Piramal Life Sciences on declines, says Shrikant Chouhan , Kotak Securities.

Chouhan told CNBC-TV18, "Currently Piramal Life Sciences is trading at Rs 110. So the stock is under consolidation mode and it is just buzzing. So at these levels it is very tough to say at which level the stock will halt but certainly on declines, one can encash to buy on declines."

Piramal Life has touched an intraday high of Rs 115.00 and an intraday low of Rs 100.55. The share closed at Rs 107.75, up Rs 11.05, or 11.43%. Yesterday the share closed up 19.98% or Rs 16.10 at Rs 96.70.

The company's trailing 12-month (TTM) EPS was at Rs -52.54 per share. The stock's price-to-earnings (P/E) ratio was -. The latest book value of the company is Rs -7.43 per share. At current value, the price-to-book value of the company was -14.5.

Disclosure: I do not have a personal holding in the above stock/sector but may have recommended them to clients.