Sell ABG Shipyard: Sudarshan Sukhani

Sell ABG Shipyard, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, "ABG Shipyard is actually a sell for the last few days; it was on a rally when this broad market was coming down. It now gives the impression that the intermediate rally in ABG is now getting over and it's ripe for a correction. So we are looking for either hedging candidates or stocks that will fall if the Nifty decides to turnaround. ABG is appropriate on both accounts. It is unlikely to participate in any rally; it is also ready for a big decline that will be a correction but it is a tradable correction on the downside. ABG Shipyard at this point is a selling idea."

The company's trailing 12-month (TTM) EPS was at Rs 39.05 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 9.98. The latest book value of the company is Rs 243.66 per share. At current value, the price-to-book value of the company was 1.6. The dividend yield of the company was 1.03%.