Short Fortis Healthcare , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "Fortis has become a low price stock, from Rs 170-180 it's come down to Rs 90, so the downtrend actually continues. What we saw was simply a bounce back after a very sharp decline from Rs 140 to Rs 85. That bounce back is getting over."
He further added, "Yesterday it made a pattern that in technical words is called a doggy. That pattern often suggests a reversal. So a small 10% rally is likely to be reversed and the bear market in Fortis may well resume. So it's a hedge, it's also an independent short sell. Even the risk of its rally is very low."
company's trailing 12-month (TTM) EPS was at Rs 3.72 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 25.59. The latest book value of the company is Rs 74.41 per share. At current value, the price-to-book value of the company was 1.28.
