JSPL may slip below Rs 300: Sudarshan Sukhani

Jindal Steel and Power (JSPL) may slip below Rs 300, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Jindal Steel and Power (JSPL) have done all the wrong things. It has been in our sell list consistently. JSPL now suggests going towards Rs 335 in the short-term and maybe cracking Rs 300.”
He furhet added, “There is something going on in metals, in the Jindal Steel group companies, which we do not understand but he market understands that.”
The share touched its 52-week high Rs 654.05 and 52-week low Rs 321.10 on 21 February, 2012 and 12 September, 2012, respectively.Currently, it is trading 44.8% below its 52-week high and 12.44% above its 52-week low.
The company's trailing 12-month (TTM) EPS was at Rs 19.68 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 18.35. The latest book value of the company is Rs 116.01 per share. At current value, the price-to-book value of the company was 3.11. The dividend yield of the company was 0.44%.