Above Rs 40, Unitech can test Rs 48: Jitendra Mehta

Above Rs 40, Unitech can test Rs 48, says Jitendra Mehta, Edelweiss.

Mehta told CNBC-TV18, "Yesterday Unitech did rally on very high volume. In fact if you see BSE realty index you can see the kind of a movement in lot of other names also. I think Rs 40-41 remains a crucial resistance for Unitech. Once it starts trading above Rs 41 levels you can see a rally all the way till Rs 48."
The company's trailing 12-month (TTM) EPS was at Rs 2.26 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 17.81. The latest book value of the company is Rs 30.34 per share. At current value, the price-to-book value of the company was 1.33. The dividend yield of the company was 0.5%. Disclosure: Most of the stocks that we discussed here we would have recommended to our clients.