Buy GAIL India, says Sudarshan Sukhani

One can buy GAIL India, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "GAIL India has been for a long only trade. It has been floundering, doing nothing, but that is how a base begins to build, that is how a good stock then eventually starts a rally. Therefore, there are lot of signs that GAIL is now finding strong support at Rs 300 and it just needs a little bit of smart money to push it higher. We are buying in anticipation but chart suggests that there is no harm in buying this low risk and possibly high reward trade."
The share touched its 52-week high Rs 396 and 52-week low Rs 300.40 on 05 October, 2012 and 26 March, 2013, respectively. Currently, it is trading 19.42 percent below its 52-week high and 6.23 percent above its 52-week low. Market capitalisation stands at Rs 40,477.11 crore.
The company's trailing 12-month (TTM) EPS was at Rs 28.80 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 11.08. The latest book value of the company is Rs 170.48 per share. At current value, the price-to-book value of the company was 1.87. The dividend yield of the company was 2.73 percent.