Shipping Corp has target of Rs 170: Thukral

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Shipping Corporation of India has target of Rs 170, says Hemant Thukral of Asian Markets Securities.

Thukral told CNBc-TV18, "Shipping Corporation has broken above Rs 155-156, which was a resistance on it with a positive cost of carry open interest added up. So we are looking at a target of Rs 170 on it in an immediate short-term."

Shipping Corp has touched an intraday high of Rs 162.00 and an intraday low of Rs 159. At 10:15 hrs the share was quoting at Rs 161.75, up Rs 4.20, or 2.67% with volumes of 71,308 shares. Yesterday the share closed up 4.06% or Rs 6.15 at Rs 157.55.

The company touched its 52 week high Rs 181.90 and 52 week low Rs 77.25 on 19 Jan, 2010 and 17 Mar, 2009, respectively. Currently, it is trading -11.08% below its 52-week high and 109.39% above its 52-week low. Market capitalisation stands at Rs 6,849.36 crore.
 
The company's trailing 12-month (TTM) EPS was at Rs 10.43 per share. (Dec, 2009). The stock's price-to-earnings (P/E) ratio was 15.50. The latest book value of the company is Rs 146.61 per share. At current value, the price-to-book value of the company was 1.1. The dividend yield of the company was 4.02%.