Buy ACC 1020 Put: VK Sharma

Buy ACC 1020 Put, says VK Sharma, Head Private Broking & Wealth Management, HDFC Securities.

Sharma told CBC-TV18, "You do have that support in ACC where some kind of buying keeps on happening by the parent but still I think this is the first day of the crack, so cement sector per se is more liable for penal action and therefore buying 1,020 put, which was available at around Rs 29 yesterday, one could hope to sell it around Rs 45 and one should keep a stop loss of Rs 21 in this." The company's trailing 12-month (TTM) EPS was at Rs 60.91 per share. (Sep, 2010). The stock's price-to-earnings (P/E) ratio was 16.76. The latest book value of the company is Rs 320.11 per share. At current value, the price-to-book value of the company was 3.19. The dividend yield of the company was 2.25%.