Agro Tech Foods looks good for long term: Mehta

Agro Tech Foods is looking good for long term, says Devang Mehta, Vice President & Head - Equity Sales at Anand Rathi Financial Services.

Mehta told CNBC-TV18, "We think midcaps are bound to perform well, whenever markets are sluggish we see some outperformance from select stocks. We do like the space, FMCG space, and some stocks among those like Zydus Wellness, Agro Tech Foods, Jyothy Laboratories; these are some stocks which can do well and tide against the markets if at all markets go down and also this stock is normally act as defensive. In good markets they can perform well especially we like Agro Tech Foods, which is 48% subsidiary of ConAgra foods US doing extremely well on its main brand Sundrop as well as in its popcorn brand and margin seems to be improving. So we like the stock Agro Tech Foods for longer-term." Agro Tech Foods trailing 12-month (TTM) EPS was at Rs 11.31 per share. (Sep, 2010). The stock's price-to-earnings (P/E) ratio was 34.17. The latest book value of the company is Rs 61.83 per share. At current value, the price-to-book value of the company was 6.25. The dividend yield of the company was 0.39%.