Buy Tata Steel 480 call option, says Rikesh Parikh, Vice-President Markets Strategy and Product Development –Equities at Motilal Oswal Financial Services.
Parikh told CNBC-TV18, "Tata Steel for the last few days has been getting support around Rs 560. Today it has given some amount of momentum. One can look at buying call option of 480 which is trading around Rs 5, probably if the stock moves up from here onwards one can benefit out of it. Keeping further call option I will suggest that one can keep a stoploss at around 458 on the lower side on the closing basis."
The company's trailing 12-month (TTM) EPS was at Rs 71.58 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 6.61. The latest book value of the company is Rs 497.09 per share. At current value, the price-to-book value of the company was 0.95. The dividend yield of the company was 2.53%.
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