Short Bank of India, says Sudarshan Sukhani

Short Bank of India, says Sudarshan Sukhani of s2analytics.com.
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Feb 27, 2013, 09.25 AM | Source: CNBC-TV18

Short Bank of India, says Sudarshan Sukhani

Short Bank of India, says Sudarshan Sukhani of s2analytics.com.

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Short Bank of India, says Sudarshan Sukhani

Short Bank of India, says Sudarshan Sukhani of s2analytics.com.

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Sudarshan Sukhani (more)

Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical

Short Bank of India, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, " Bank of India has been falling like most PSU banks and then it went into a small trading range. It is on the verge of cracking below it.”

He further added, “A lot of PSU banks have turned around, completed their bull markets and have embarked on what promises to be a very deep decline. Bank of India is one of them, go short in it, don’t expect big rewards in intraday trading, which is why stay with the best of the blue-chips if you want to go long. Everything else is a short, Bank of India certainly is for today.”

The share touched its 52-week high Rs 394 and 52-week low Rs 253.80 on 14 March, 2012 and 30 August, 2012, respectively. Currently, it is trading 16.62% below its 52-week high and 29.43% above its 52-week low. Market capitalisation stands at Rs 18,872.98 crore.

The company's trailing 12-month (TTM) EPS was at Rs 45.48 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 7.22. The latest book value of the company is Rs 343.35 per share. At current value, the price-to-book value of the company was 0.96. The dividend yield of the company was 2.13%.

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