Short MRPL with day target of Rs 61.50: Thunuguntla

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Short MRPL with day target of Rs 61.50: Thunuguntla

Short MRPL with a day target of Rs 61.50, says Jagannadham Thunuguntla of SMC Global

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Short MRPL with a day target of Rs 61.50, says Jagannadham Thunuguntla of SMC Global

Thunuguntla told CNBC-TV18, "Short MRPL with the day target price of Rs 61.50. The company has posted disappointing results. The profit fell about 90% thanks to the depreciating rupee. The stock is expected to remain under pressure and also going forward also market conditions are not good and rupee is expected to depreciate further."

The company's trailing 12-month (TTM) EPS was at Rs 7.54 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 8.16. The latest book value of the company is Rs 37.20 per share. At current value, the price-to-book value of the company was 1.65. The dividend yield of the company was 1.95%.