Infosys can go down to Rs 2450-2500: Sukhani

Infosys can go down to Rs 2450-2500, says Sudarshan Sukhani of technicaltrends.com.

Sukhani told CNBC-TV18, "Infosys is in a correction rather than a downtrend. The downtrend was over when it touched Rs 2,300. So in a correction everything is going down, this can go down to Rs 2,450-2,500 but I am not as bearish on Infosys as on most of the others."
The company touched its 52-week high Rs 3,493.95 and 52-week low Rs 2,169.00 on 07 Jan, 2011 and 25 Aug, 2011, respectively. Currently, it is trading -23.04% below its 52-week high and 23.97% above its 52-week low. Market capitalisation stands at Rs 154,397.47 crore.
The company's trailing 12-month (TTM) EPS was at Rs 119.24 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 22.53. The latest book value of the company is Rs 426.70 per share. At current value, the price-to-book value of the company was 6.3. The dividend yield of the company was 2.23%.