Reliance Infra has target of Rs 500: Manghnani

Reliance Infra has target of Rs 500, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "Reliance Infra has been moving recently. I think that may have still some more legs. I believe it closed around Rs 470, so Rs 484 and Rs 500 are the immediate trading targets."

He further added, "Reliance Power has been going up steadily that maybe headed to about Rs 110 and for Reliance Comm about Rs 88-90 range is a resistance zone."

The company's trailing 12-month (TTM) EPS was at Rs 60.36 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 8.02. The latest book value of the company is Rs 669.92 per share. At current value, the price-to-book value of the company was 0.72. The dividend yield of the company was 1.49%.

The company touched its 52-week high Rs 1,075.00 and 52-week low Rs 366.30 on 11 Nov, 2010 and 03 Oct, 2011, respectively. Currently, it is trading -54.96% below its 52-week high and 32.19% above its 52-week low. Market capitalisation stands at Rs 12,766.91 crore.