Jain Irrigation has potential to move 10- 12%, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "There is still good upside seen in Jain Irrigation. The way we have seen in some of the stocks like maybe GMR Infra which has risen by 50% or maybe by like Tata Steel or maybe like Sesa Goa which have been rose by about 20-30% in last one week or so, this kind of upside is likely to be. For last one week we have seen share to be under accumulation. Probably today the short covering led to this kind of rally which is likely to get accelerated. So holding positive view at least till expiry, the stock has the potential to move up by about 10-12% further from hereon."
The company's trailing 12-month (TTM) EPS was at Rs 7.65 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 13.16. 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 2.47. The dividend yield of the company was 0.99%.
