SRF has target of Rs 355: Madan

SRF has target of Rs 355, says Ashu Madan of Religare.

Madan told CNBC-TV18, "SRF offlate have shown lot of strength. If you look at past few trading sessions when it  started its upmove between 325 to 330, it went up to Rs 365-370 and again with these knee jerk reaction in the market  or not only knee jerk reaction, sharp reactions in the market it again come down to level of Rs 325-330 and we saw  some activities. So as I have been mentioning that at this juncture where the selling, which it was primarily in frontliners  is advisable to be in quality midcaps, so one of my choices for today would be SRF at Rs 335 with a price target of Rs 355."

The company's trailing 12-month (TTM) EPS was at Rs 53.62 per share. (Sep, 2010). The stock's price-to-earnings  (P/E) ratio was 6.30. The latest book value of the company is Rs 200.07 per share. At current value, the price-to-book  value of the company was 1.69. The dividend yield of the company was 4.14%.