See more downside in NMDC, says Baliga

See more downside in NMDC, says Ambareesh Baliga, Independent Analyst.

Baliga told CNBC-TV18, "I would not buy MMTC, STC and RCF at this moment especially after the run up, which we have seen because closer to the offer for sale clearly most of these stocks would correct. So it doesn’t make sense buying right now."
He further added, "NMDC numbers were not up to the mark, so we should see some more downside for that stock."
At 10:46 hrs NMDC was quoting at Rs 148.85, up Rs 2.10, or 1.43%. It has touched an intraday high of Rs 151.40 and an intraday low of Rs 148.05.
The company's trailing 12-month (TTM) EPS was at Rs 18.33 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 8.12. The latest book value of the company is Rs 61.56 per share. At current value, the price-to-book value of the company was 2.42. The dividend yield of the company was 3.02%.