JP Associates can touch Rs 74-75: Hemant Thukral

Jaiprakash Associates can touch Rs 74-75, says Hemant Thukral of Aditya Birla Money.

Thukral told CNBC-TV18, "Yesterday was a complete u-turn in cement stocks across the board. They all opened with a gap down and suddenly the way the open interest and the long positions are added up they all started moving up. JP Associates also has closed well above Rs 71 yesterday with a good open interest addition. So till its holding a trading stop loss of Rs 69 on the downside, I think it can progress further from hereon and test Rs 74 and Rs 75 levels. So it’s a good bet for this morning trade. One can buy it but keep a trading stop loss of Rs 69 on it."
The company's trailing 12-month (TTM) EPS was at Rs 5.48 per share. (Mar, 2012). The stock's price-to-earnings (P/E) ratio was 13.11. The latest book value of the company is Rs 48.07 per share. At current value, the price-to-book value of the company was 1.49. The dividend yield of the company was 1.11%.