Short GMDC, says Sudarshan Sukhani

Short Gujarat Mineral Development Corporation (GMDC), says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "GMDC is a short sell. If not anything GMDC is likely to come down to that Rs 160-165 level where there is some support and eventually whenever it comes there and it breaks that then it goes into a very big decline. So whether it’s a short term trade or what can possibly become a positional short trade in either case GMDC remains a short sell. Yesterday it broke down below a support level, again a lot of stocks did that yesterday and now the sense is that it’s going to go slowly towards the initial levels of Rs 160."
The company's trailing 12-month (TTM) EPS was at Rs 11.79 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 15.46. The latest book value of the company is Rs 52.51 per share. At current value, the price-to-book value of the company was 3.47. The dividend yield of the company was 1.65%. Disclosure: I have no holding or interest in the above stock.