BEML likely to break Rs 408: Sukhani

Sudarshan Sukhani of technicaltrends.com feels that BEML is likely to break Rs 408.

Sukhani told CNBC-TV18, "BEML looks weak. It hits Rs 400 from its top of Rs 1,000-1,100 and then it went through a rally. That rally gave the impression that things have changed but they did not. For the last few days together with the Nifty it has fallen from Rs 550 to Rs 425 that tells us the rally was a bear market rally."

He further added, "The decline is started again, so the earlier lows of Rs 408 are likely to be broken on the downside. So at Rs 472 there is a lot of room on the downside."

The company's trailing 12-month (TTM) EPS was at Rs 36.45 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 12.99. The latest book value of the company is Rs 513.61 per share. At current value, the price-to-book value of the company was 0.92. The dividend yield of the company was 2.11%.