Below Rs 51, NCC can slip to Rs 45: Manghnani

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Below Rs 51, NCC can slip to Rs 45: Manghnani

Anil Manghnani of Modern Shares & Stock Brokers feels that below Rs 51, NCC can slip to Rs 45.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Anil Manghnani See what other Experts & Brokerages are saying about Nagarjuna Const See messages about Nagarjuna Const

Anil Manghnani of Modern Shares & Stock Brokers feels that below Rs 51, NCC can slip to Rs 45.

Manghnani told CNBC-TV18, "NCC maybe the way the fall came because the numbers were a bit surprising but I guess when a stock moves from Rs 31 to more than Rs 60 that's a doubling, 100% return in 1-1.5 month. You should be alarmed with profit booking. I think the key level to watch is Rs 51 which it touched yesterday because if it takes that out then the open down sides of Rs 47.5 right up to Rs 45."

The company's trailing 12-month (TTM) EPS was at Rs 6.37 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 8.52. The latest book value of the company is Rs 92.71 per share. At current value, the price-to-book value of the company was 0.59. The dividend yield of the company was 1.84%.