GMR Infra has support at Rs 26-24: Manghnani

GMR Infra has support at Rs 26-24, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "I think most of infra stocks have even passed their 50% and 61.8% correction of the recent move that we had in January and February. So obviously Lanco Infra and Nagarjuna Construction are little concerning. I think for GMR Infra Rs 26-24 is a good support zone and for Punj Lloyd between Rs 51 and Rs 48 is the immediate support zone."
GMR Infra's trailing 12-month (TTM) EPS was at Rs 0.15 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 175.33. The latest book value of the company is Rs 18.42 per share. At current value, the price-to-book value of the company was 1.43.