Keep Rs 46 stoploss in Shasun Chemicals: Anu Jain

Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Anu Jain See what other Experts & Brokerages are saying about Shasun Pharma See messages about Shasun Pharma Shasun Pharma BSE | NSE 10/02/12 Are Mutual Funds betting on Shasun Pharma?

Keep Rs 46 stoploss in Shasun Chemicals and Drugs , says Anu Jain of IIFL Private Wealth Management.

Jain told CNBC-TV18, "Shasun Chemicals has broken up from Rs 45 and gone up to Rs 53 and then come back to Rs 47.5. I would keep a stop loss of about Rs 46. If it breaks Rs 46, I think it will break Rs 45 as well. So I would get out of the positions."

She further added, "I would probably let it play because when a breakout really happens and it moves up right up to 10-12% higher then usually, it goes back to test from breakout levels couple of percentage points here and there. It is right now doing that, so whether it can sustain that and then move and come back into the up move again is all that I am trying to test out. So Rs 46 should be the stop loss and then continue to hold."

At 13:36 hrs the share was quoting at Rs 47.30, down Rs 1.55, or 3.17%. Market capitalisation stands at Rs 228.52 crore.

The company's trailing 12-month (TTM) EPS was at Rs 2.52 per share. The stock's price-to-earnings (P/E) ratio was 18.77. The latest book value of the company is Rs 39.82 per share. At current value, the price-to-book value of the company was 1.19.