Short DLF, says Gujral

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Short DLF , says Technical Analyst, Ashwani Gujral .

Gujral told CNBC-TV18, "With the rate hike, things don't become any better with the real estate companies and this modest pullback that DLF had started from Rs 280 maybe punctured for a bit now. So the target for the day is Rs 303 although the way the rate sensitive have recovered, it wasn't such an unexpected hike but overall in a bad market real estate would continue to do poorly. So if you had one idea on the short side it would be DLF for the day, the target here being Rs 303."

At 12:21 hrs the share was quoting at Rs 303.05, down Rs 9.65, or 3.09%. On Friday the share closed down 1.36% or Rs 4.30 at Rs 312.70.

The company touched its 52 week high Rs 490.80 and 52 week low Rs 171.45 on 21 Oct, 2009 and 31 Mar, 2009, respectively. Currently, it is trading -38.25% below its 52-week high and 76.76% above its 52-week low. Market capitalisation stands at Rs 51,438.07 crore.

The company's trailing 12-month (TTM) EPS was at Rs 2.29 per share. (Dec, 2009). The stock's price-to-earnings (P/E) ratio was 132.34. The latest book value of the company is Rs 72.91 per share. At current value, the price-to-book value of the company was 4.16. The dividend yield of the company was 0.66%.