Get in Deepak Fertilizers: Mithil Pradhan

Mithil Pradhan of Violet Arch Capital Advisors is of the view that traders can get in to Deepak Fertilizers at this level.

Pradhan told CNBC-TV18, "Including Deepak Fertilisers lots of my other stocks were showing similar diagonal patterns on the chart. Diagonal patterns as you would recall is one of my favourite strategies to trade longs, so there is nothing much to say about this stock, I feel that the stock has on a larger timeframe has completed a flat pattern and its just very near to the bottom it has made. So risk reward is greatly favourable even I have given a trading target but buy and hold target would greatly exceed this particular number, which I have given. So, I would recommend traders to get into the stock right now."
The company's trailing 12-month (TTM) EPS was at Rs 21.16 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 7.14. The latest book value of the company is Rs 120.87 per share. At current value, the price-to-book value of the company was 1.25. The dividend yield of the company was 3.31%.