Buy Punj Lloyd, says Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Punj Lloyd.

Sukhani told CNBC-TV18, "Like Jaiprakash Associates, at some point Punj Lloyd stopped falling. It has made very neat pattern, a bullish head and shoulder and it is now breaking out. So, some midcaps stocks, at least in the short-term maybe ripe for a rally. This is a day trade and a swing trade, do not over last the trade. Punj Lloyd is a high beta stock, so sometimes one gets some money out of it."
He further added, "I would not trade anything unless the policy is very clear or rather I am not worried about the policy. The market’s reaction to the policy is very clear. If there is a mild bullish bias then these long trade should work out well because we are talking about midcaps."
The share touched its 52-week high Rs 64.10 and 52-week low Rs 39.00 on 09 January, 2013 and 04 March, 2013, respectively. Currently, it is trading 22.62% below its 52-week high and 27.18% above its 52-week low. Market capitalisation stands at Rs 1,647.19 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 34.83. 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 0.43. The dividend yield of the company was 0.3%.