Buy IVRCL Infrastructure on dip: Gandhi

Buy IVRCL Infrastructure on dip, says Rakesh Gandhi, Senior Tech Analyst, LKP.

Gandhi told CNBC-TV18, "IVRCL Infrastructure and Projects can be bought on declines and expect a target of Rs 105 or so and Rs 82 or Rs 80 should be a stoploss for any trading that is being done on IVRCL Infra. The formation on this is rising ascending triangle and I think that gives us a good idea of stock rising upto Rs 105 or Rs 110 level in next two-three weeks time."
IVRCL Infra trailing 12-month (TTM) EPS was at Rs 6.70 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 13.43. The latest book value of the company is Rs 69.30 per share. At current value, the price-to-book value of the company was 1.3. The dividend yield of the company was 0.89%. Disclosure: I am not holding any position in the stock but we are regularly recommending to LKP clients as and when it happens for a trading opportunity.