Stay away from SAIL: TS Anantakrishnan

Stay away from SAIL, says TS Anantakrishnan, Head - Prime Wealth Management.

Anantakrishnan told CNBC-TV18, "Until the clarity of the FPO gets done, we would just stay away from SAIL. EBITDA had fallen quite dramatically from USD 170 per tonne to about USD 108-109 per tonne. We would still wait to invest in SAIL but would look at other players in the same space like a JSW Steel or a Tata Steel." SAIL trailing 12-month (TTM) EPS was at Rs 13.22 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 12.84. The latest book value of the company is Rs 80.66 per share. At current value, the price-to-book value of the company was 2.1. The dividend yield of the company was 1.94%.