Avoid Sterlite Industries, says Kulkarni

Shardul Kulkarni of Angel Broking advises traders to avoid Sterlite Industries, as the stock is expected to move towards Rs 78-80 levels in next 3-5 trading sessions.

Kulkarni told CNBC-TV18, "Looking at the charts of Sterlite Industries I think it is best to avoid this particular stock. If you look at it from a perspective of going short yes there is an opportunity but since the market is not giving you that view that you should be short, I think it is best to avoid Sterlite. I feel that stock can move towards the levels of Rs 78-80 at least in the next three-five trading sessions so it is basically either a short or an avoid." The company's trailing 12-month (TTM) EPS was at Rs 3.33 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 25.56. The latest book value of the company is Rs 73.56 per share. At current value, the price-to-book value of the company was 1.16. The dividend yield of the company was 2.35 percent.