Buy Unitech around Rs 30, says Kulkarni

Unitech is expected to fall about 5-7%. One can buy the stock at around Rs 30, says Shardul Kulkarni of Angel Broking.

Kulkarni told CNBC-TV18, "Unitech's chart structure is still very much bullish and one should be looking at declines to buy. But very honestly, there are much better counters than Unitech which I am going to look at. So if one has to take a position in Unitech, one can look at taking positions but near to Rs 30 mark, not at the current price of Rs 32.50, I think the stock can fall lower about 5-7%. But probably at around Rs 30, one can look at buying into the counter." The company's trailing 12-month (TTM) EPS was at Rs 1.95 per share. (Sep, 2012). The stock's price-to-earnings (P/E) ratio was 17.26. The latest book value of the company is Rs 36.84 per share. At current value, the price-to-book value of the company was 0.91. Disclosures: It is possible that we have positions in the stocks discussed and we have recommended them to our clients.