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Apr 10, 2013, 06.23 PM IST | Source: CNBC-TV18

Sell Pantaloon Retail; may slip to Rs 130: Kulkarni

According to Shardul Kulkarni of Angel Broking, one can sell Pantaloon Retail, it may slip to Rs 130.

According to Shardul Kulkarni of Angel Broking, one can sell Pantaloon Retail , it may slip to Rs 130.

Kulkarni told CNBC-TV18, "Pantaloon has been a huge underperformer and going forward, we will see further lower levels, a very strong lower top-lower bottom cycle. Going forward, we see that a new low can be created. Rs 130 is the target price that we are looking out for. This is incidentally the level from which the stock started rising when the buzz in foreign direct investment (FDI) in retail was there. After FDI in retail has come in, we still see that the stock is expected to again test that lower level of Rs 130."

He further added, "One should be looking at selling into Pantaloon. Today's high which is around d Rs 154 will be your stop loss in the futures segment and going forward, Rs 130 is the target price that one can look out for."

The company's trailing 12-month (TTM) EPS was at Rs -2.87 per share. (Sep, 2006). The stock's price-to-earnings (P/E) ratio was -. The latest book value of the company is Rs 42.70 per share. At current value, the price-to-book value of the company was 8.6.

Disclosures: It is possible that we have positions in the stocks we have discussed and we have recommended them to our clients.

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