Jain Irrigation has good support around Rs 65: SP Tulsian

Tulsian told CNBC-TV18, “Today I was thinking that probably Jain Irrigation should take support at about Rs 75, but the kind of fall which we have seen today, I am unable to connect the reason for such a fall because issue of 75 lakh warrants to the promoters at the market price determined on the SEBI formula should be seen as positive for the stock.”

He further added, “Hope that Rs 65 remains as a good support for the stock and from here on things should improve and take the share price move back to about Rs 75 or so.”

The company's trailing 12-month (TTM) EPS was at Rs 7.65 per share. (Jun, 2012). The stock's price-to-earnings (P/E) ratio was 9.23. The latest book value of the company is Rs 40.71 per share. At current value, the price-to-book value of the company was 1.73. The dividend yield of the company was 1.42%.