Buy Punj Lloyd, says Sudarshan Sukhani

One can buy Punj Lloyd, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "In Punj Lloyd, first a big rally and this big rally maintained itself and that is very unusual. The stock did not go back and gave up the gain. A small correction in Punj Lloyd stopped at Rs 50, which is a strong support level. Therefore, it is now outperforming and giving signs of relative strength. We would be buyers here. There is no question of selling it. The idea is if the market gives sign of an intraday life, Punj Lloyd becomes a buying opportunity."
The share touched its 52-week high Rs 64.10 and 52-week low Rs 39 on 09 January, 2013 and 04 March, 2013, respectively. Currently, it is trading 16.22 percent below its 52-week high and 37.69 percent above its 52-week low. Market capitalisation stands at Rs 1,783.35 crore.
The company's trailing 12-month (TTM) EPS was at Rs 1.43 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 37.45. The latest book value of the company is Rs 114.62 per share. At current value, the price-to-book value of the company was 0.47. The dividend yield of the company was 0.28 percent.