Nooresh Mirani, AVP Technical at AMSEC Research advises selling GMR Infrastructure. "Any rise to levels of Rs 19-20 should be a good opportunity to get out into the stock," he adds.
Nooresh Mirani, AVP Technical at AMSEC Research told CNBC-TV18, "Over a longer term period Rs 20-24 was a major zone for GMR Infrastructure . The moment it broke Rs 20 level it has fallen off, so any rise to levels of Rs 19-20 should be a good opportunity to get out into the stock. So, at current level I would suggest an exit."
"It has rallied a lot from lower levels, so forgetting the buy price one should look at the current scenario which indicates this is a good time to get out," he added.
On September 16, 2013 GMR Infrastructure closed at Rs 18.94, up Rs 0.14, or 0.74 percent.
The share touched its 52-week high Rs 27.00 and 52-week low Rs 10.65 on 04 October, 2012 and 06 August, 2013, respectively.
The company's trailing 12-month (TTM) EPS was at Rs 0.08 per share. (Jun, 2013). The stock's price-to-earnings (P/E) ratio was 236.75. The latest book value of the company is Rs 18.46 per share. At current value, the price-to-book value of the company was 1.03. The dividend yield of the company was 0.53 percent.
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Dont see mkt going anywhere now; like Bharat Forge: Dipen