JSW Steel can slip below Rs 550: Manish Shah

JSW Steel can slip below Rs 550, says Manish Shah, Head Technical Analyst, Fortune Financial Services.

Shah told CNBC-TV18, "JSW Steel is in a very strong down trend probably we may see some sort of a corrective bounce but I think a drop to below Rs 550 seems to be on the cards."
The company's trailing 12-month (TTM) EPS was at Rs 100.34 per share. (Jun, 2011). The stock's price-to-earnings (P/E) ratio was 5.86. The latest book value of the company is Rs 733.06 per share. At current value, the price-to-book value of the company was 0.8. The dividend yield of the company was 2.09%.