Avoid Hero Honda: Rakesh Gandhi

Do not buy Hero Honda, says Rakesh Gandhi, Senior Tech Analyst, LKP.

Gandhi told CNBC-TV18, "In Hero Honda this is just a pullback of that fall from Rs 1950 upto Rs 1600. If it sustains above Rs 1750 then there is any point of trading on the upside. At this point of time, I would not recommend to buy or trade on Hero Honda on the upside."
The company's trailing 12-month (TTM) EPS was at Rs 101.41 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 16.68. The latest book value of the company is Rs 173.52 per share. At current value, the price-to-book value of the company was 9.75. The dividend yield of the company was 6.5%.