Short JSW Energy; target Rs 56: Kapoor

One can short JSW Energy with a stop loss of Rs 62 for the target price of Rs 56, says Sahil Kapoor, Edelinvest Research.

Kapoor told CNBC-TV18, "JSW Energy seems to be a good short because midcap stock has seen a lot of selling. Its fallen from Rs 75 levels and it went straight down to Rs 52 levels. The kind of rise that we saw in the last two-three days largely it has been on back of short covering. I think Rs 60 is a level around which it will become an attractive sell and one can go short with a stop loss at Rs 62 and one could look for Rs 56 levels." The company's trailing 12-month (TTM) EPS was at Rs 5.40 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 11.32. The latest book value of the company is Rs 37.55 per share. At current value, the price-to-book value of the company was 1.63. The dividend yield of the company was 0.82%.