Orchid Chemicals may slip below Rs 100: Sukhani

Orchid Chemicals may slip below Rs 100, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I have been selling Orchid Chemicals for a long time and including the big declines we saw on news and then Orchid went into a small trading range. It’s broken down from that trading range, not up and that is remarkable because most stocks are now making these ranges and going on the upside. So whatever news was there is not yet fully adjusted in the prices."
He further added, "The chances are it will go below Rs 100. My targets are Rs 110 for the short-term trader but in a market where broadly stocks are going up it’s a nice idea to have one-two stocks that are relatively weak on the short side."
The company's trailing 12-month (TTM) EPS was at Rs 22.64 per share. (Mar, 2012). The stock's price-to-earnings (P/E) ratio was 4.91. The latest book value of the company is Rs 175.60 per share. At current value, the price-to-book value of the company was 0.63. The dividend yield of the company was 2.7%.