Short DLF, says Anu Jain

Short DLF, says Anu Jain, IIFL Private Wealth Mgmt, India Infoline.

Jain told CNBC-TV18, "The whole market has been weak and all the real estate stocks have been quite weak. DLF closed at about Rs 238, over the last two weeks has made an attempt to go back to about Rs 250-260 levels. I think it can go up to Rs 248 but I would short at this level and probably any bounce because I think over a period of 2-3 weeks it is poised to go down lower towards Rs 219." The company's trailing 12-month (TTM) EPS was at Rs 5.56 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 42.86. The latest book value of the company is Rs 75.58 per share. At current value, the price-to-book value of the company was 3.15. The dividend yield of the company was 0.84%.