Hindalco Ind may not fall below Rs 215-220: Tulsian

Hindalco Industries may not fall below Rs 215-220, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "Hindalco - long-term or the fundamental call is intact because of the performance of the Novalis expected going ahead but there has been huge short-term built up or maybe the long positions having got created in F&O segment. With a fall in the market, you see that kind of correction coming in. But I think maybe it should not fall below Rs 215-220 where the renewed buying interest purely on fundamentals should come back. So whatever worse has to happen, has happened in the stock." 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 21.40. 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 1.58. The dividend yield of the company was 0.59%.