Limited downside in Reliance Infra: Darashaw

Regan Homavazir, Darashaw is not expecting too much downside in Reliance Infrastructure.

Homavazir told CNBC-TV18, "In infrastructure space there are selective companies that look very good and the correction seem to have had gotten over. Jaiprakash Associates has fallen from about Rs 103 or Rs 107 to about Rs 70. We expect it to do very well."
He further added, "We do not expect too much downside in Reliance Infrastructure. The trigger point in Reliance Infra would be Rs 570 where we expect some serious upside."
Reliance Infrastructure touched its 52-week high Rs 679.70 and 52-week low Rs 444.45 on 06 March, 2012 and 04 June, 2012, respectively. Currently, it is trading 27.73% below its 52-week high and 10.52% above its 52-week low. Market capitalisation stands at Rs 12,918.07 crore.
The company's trailing 12-month (TTM) EPS was at Rs 40.42 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 12.16. The latest book value of the company is Rs 705 per share. At current value, the price-to-book value of the company was 0.7. The dividend yield of the company was 1.48%.