SKS Microfinance looks good for trading: Baliga

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SKS Microfinance looks good for trading: Baliga

SKS Microfinance is looking good for trading, says Ambareesh Baliga, COO, Way2Wealth.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ambareesh Baliga See what other Experts & Brokerages are saying about SKS Microfin See messages about SKS Microfin SKS Microfin BSE | NSE 01/06/12 Are Mutual Funds betting on SKS Microfin?

SKS Microfinance is looking good for trading, says Ambareesh Baliga, COO, Way2Wealth.

Baliga told CNBC-TV18, "At these levels SKS Microfinance is only a trading bet. In fact, we have been saying for quite a while it's not just about SKS but all those companies in groups, which have issues with the authority, which have issues with the government that it is best avoided because as investors when we have a choice why get into those stocks where we know there is a problem with the authorities and that's exactly what has played on this stock. But again possibly a bounce back from here can take it up Rs 30-40 but it is not really worth taking that risk."

The company's trailing 12-month (TTM) EPS was at Rs 33.78 per share. (Mar, 2011). The stock's price-to-earnings (P/E) ratio was 9.51. The latest book value of the company is Rs 148.40 per share. At current value, the price-to-book value of the company was 2.17.