Buy Madras Cement, says Sudarshan Sukhani

Buy Madras Cement, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Madras Cement has a dream pattern, a rally and then that rally ended up with a bullish head and shoulder pattern from which it broke out. It is a chartist’s delight. A consolidation and then a breakout from a perfect pattern and in any case I have been a little upbeat on cement earlier also.”
He further added, “I have been saying cement is bottoming out, that sense is coming in a lot of charts. Madras Cement is a position trading opportunity; it is also a day trading buy. Look at it, there is going to be lot more momentum on the upside."
The company's trailing 12-month (TTM) EPS was at Rs 8.87 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 28.31. The latest book value of the company is Rs 86.16 per share. At current value, the price-to-book value of the company was 2.91. The dividend yield of the company was 1%.