Sahil Kapoor of Edelweiss is of the view that Mahindra and Mahindra (M&M) may touch Rs 350 or lower from current levels. "One may short the stock," he adds.
Sahil Kapoor of Edelweiss told CNBC-TV18, " Mahindra and Mahindra (M&M) has seen a lot of short built up. It has started to make lower lows and lower highs, so possibly one can go and short M&M. Since it has fell down from Rs 900 it has continued to form lower lows and lower highs. So it can slip down to maybe Rs 350 or lower from current levels. So M&M is a clear short."
The company's trailing 12-month (TTM) EPS was at Rs 54.37 per share. (Jun, 2013). The stock's price-to-earnings (P/E) ratio was 14.28. The latest book value of the company is Rs 238.22 per share. At current value, the price-to-book value of the company was 3.26. The dividend yield of the company was 1.67 percent.
Disclosure: Stock discussed may have been advised to our clients.
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Economy turning for sure but cant say for mkts: DSP