India Cements can move to Rs 85-86: Tulsian

SP Tulsian, sptulsian.com is of the view that India Cements can move to Rs 85-86.

Tulsian told CNBC-TV18, "In India Cements one can take a trading play because the counter seems to be heavily oversold and we are seeing value buying because there is a positive bias on all the cement stocks. So this stock is helping because of the value buying coupled with the short-covering and this trend may continue, can make the share price to move to about Rs 85-86 but I think beyond that one should not take a long view on the stock."
The company's trailing 12-month (TTM) EPS was at Rs 9.22 per share. (Mar, 2012). The stock's price-to-earnings (P/E) ratio was 8.62. The latest book value of the company is Rs 124.77 per share. At current value, the price-to-book value of the company was 0.64. The dividend yield of the company was 1.89%.