GE Shipping is looking weak, says Manoj Murlidharan Vayalar, Associate Vice President-Derivatives, IIFL PReMIA.
Murlidharan told CNBC-TV18, "We have a sell call on GE Shipping because there was long build up in the last couple of days but yesterday there was cash based selling which happened and that was at a huge delivery. We guess it actually exceeded the four day average and we have seen some short build up pile up as well. So we feel GE Shipping would be weak in the short-term and we are expecting Rs 218 should be a good stop loss and at least Rs 192 odd is where we would cut our shorts."
The company's trailing 12-month (TTM) EPS was at Rs 17.50 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 11.59. The latest book value of the company is Rs 361.42 per share. At current value, the price-to-book value of the company was 0.56. The dividend yield of the company was 3.94%.
