Feb 22, 2013, 10.50 AM | Source: CNBC-TV18

Short L&T, says Sudarshan Sukhani

Short Larsen and Toubro (L&T), says Sudarshan Sukhani of s2analytics.com.

Short Larsen and Toubro (L&T), says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Larsen and Toubro (L&T) was a strong performer, but then from Rs 1,700 onwards it has been having a one-way move all the way down and now at current levels of Rs 1,450 it is giving us a message that there is an imminent breakdown that will take it to Rs 1,300. This is happening to a lot of blue chip stock.”

He further added, “L&T is a short sell now. Even for today, even a market that could be choppy and the Nifty could be choppy today L&T still has only one trade to be on the short side. We do not want to go long in a chart pattern that says much lower levels are coming.”

The company's trailing 12-month (TTM) EPS was at Rs 81.95 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 17.39. The latest book value of the company is Rs 409.54 per share. At current value, the price-to-book value of the company was 3.48. The dividend yield of the company was 1.16%.

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