Hindalco Industries can test Rs 245: Desai

Hindalco Industries can test Rs 245, says Monal Desai, VP Head Institutions Derivatives, Prabhudas Lilladher.

Desai told CNBC-TV18, "We have a buy on Hindalco; Rs 245 looks pretty much on the cards. It added about 13-14% intraday open interest, Rs 222-225 is a recent support zone and Rs 245 would be a good exit point." The company's trailing 12-month (TTM) EPS was at Rs 10.76 per share. (Sep, 2010). The stock's price-to-earnings (P/E) ratio was 20.94. The latest book value of the company is Rs 145.84 per share. At current value, the price-to-book value of the company was 1.54. The dividend yield of the company was 0.6%. Disclosure: I keep recommending above stock, personally hold nothing.