HUL has target of Rs 450-600: Darashaw & Co

HUL has target of Rs 450-600, says Dr. Regan F Homavazir, CMT, Associate Vice President, Technical Research, Darashaw & Co.

Homavazir told CNBC-TV18, "Now I think people have started to believe in HUL. We have been touting HUL right from Rs 280 onwards and we continue to maintain our target of Rs 450-600."
He further added, "It is a stock that needs to be bought on every decline reason being is very simple that it has overall a decade year old resistance and that resistance is very significant. Some very significant developments have taken place chartically. The underperformance of the last 10 years has ended and now the outperformance is likely to continue. HUL has been one stock which has gained quite significantly in a market that has been very lust less."
The company's trailing 12-month (TTM) EPS was at Rs 11.67 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 32.56. The latest book value of the company is Rs 12.19 per share. At current value, the price-to-book value of the company was 31.17. The dividend yield of the company was 1.71%.