Buy GVK Power on dips to Rs 15; target Rs 17: Kulkarni

One can buy GVK Power & Infrastructure on decline towards Rs 15 for a target price of Rs 17, says Shardul Kulkarni of Angel Broking.

Kulkarni told CNBC-TV18, "It is better to look at GVK Power & Infrastructure from positional perspective because the daily chart gives a strong indication that the breakout level of Rs 14.6 is already being crossed and the stock is trading at Rs 15.4. Any decline in case of the stock towards Rs 15 should definitely be used to buy by positional traders although the market view is not that bullish. I think the individual stock GVK looks quite good. I would look at a potential target of Rs 16.8 to Rs 17 in case of GVK." The company's trailing 12-month (TTM) EPS was at Rs -0.12 per share. (Sep, 2012). The stock's price-to-earnings (P/E) ratio was -. The latest book value of the company is Rs 15.99 per share. At current value, the price-to-book value of the company was 0.96.