Hold long positions in GMR Infra; SL Rs 20.40: Kulkarni

Shardul Kulkarni of Angel Broking advises traders to hold their long positions in GMR Infrastructure but with a strict stop loss of Rs 20.40.
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Mar 26, 2013, 05.06 PM | Source: CNBC-TV18

Hold long positions in GMR Infra; SL Rs 20.40: Kulkarni

Shardul Kulkarni of Angel Broking advises traders to hold their long positions in GMR Infrastructure but with a strict stop loss of Rs 20.40.

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Hold long positions in GMR Infra; SL Rs 20.40: Kulkarni

Shardul Kulkarni of Angel Broking advises traders to hold their long positions in GMR Infrastructure but with a strict stop loss of Rs 20.40.

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Shardul Kulkarni of Angel Broking advises traders to hold their long positions in GMR Infrastructure but with a strict stop loss of Rs 20.40.

Kulkarni told CNBC-TV18, "Inspite of today’s down move GMR Infrastructure is still showing some signs of probability moving towards Rs 22.80 to Rs 23. I think trader should hold on to their long positions in case of GMR but with a strict stop loss of Rs 20.40. If the stock were to fall below Rs 20.4 one will see further selling pressure comes into the counter.

The share touched its 52-week high Rs 31.90 and 52-week low Rs 16.75 on 02 April, 2012 and 29 November, 2012, respectively. Currently, it is trading 34.48% below its 52-week high and 24.78% above its 52-week low. Market capitalisation stands at Rs 8,135.19 crore.

The company's trailing 12-month (TTM) EPS was at Rs 0.08 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 261.25. The latest book value of the company is Rs 18.57 per share. At current value, the price-to-book value of the company was 1.13.

Disclosures: It is possible that we have positions in the stock discussed and recommend them to our clients.

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Hold long positions in GMR Infra; SL Rs 20.40: Kulkarni

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