Nagarjuna Construction can test Rs 120: Mehta

Nagarjuna Construction can test Rs 120, says Jitendra Mehta, Edelweiss.

Mehta told CNBC-TV18, "In infra space after last 3-4 days kind of a upmove which we saw there was some kind of profit booking, which has emerged. I think even the likes of IVRCL or Nagarjuna are trading flat. Markets seems to be in a kind of up trend right now and possibly this dips are buying opportunity. Our top pick would be Nagarjuna Construction at a price for Rs 120 on the upside." Nagarjuna Const trailing 12-month (TTM) EPS was at Rs 8.98 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 11.58. The latest book value of the company is Rs 87.52 per share. At current value, the price-to-book value of the company was 1.19. The dividend yield of the company was 1.25%. Disclosure: The above stock recommended to our clients and we might have direct holdings in this.