Phani Sekhar of Angel Broking told CNBC-TV18, "It is a good idea to book profits in Jindal Steel & Power because I do not see much of an upside in the stock. The core business is suffering. The spot power rates are down. The steel prices are not picking up because of poor infrastructure spend."
"So on the balance there are core problems for JSPL which are not going to go away in a hurry and valuations also at around 6.5 times FY15 EV/EBITDA are not really cheap for a stock that has lost so much already and on the evidence of what the future performance will be is still trading to my mind at fair valuations," he added.
On December 30, 2013 Jindal Steel & Power ended at Rs 263, up Rs 0.80, or 0.31 percent.
The share touched its 52-week high Rs 472.60 and 52-week low Rs 181.55 on 02 January, 2013 and 02 August, 2013, respectively.
The company's trailing 12-month (TTM) EPS was at Rs 19.68 per share. (Sep, 2013). The stock's price-to-earnings (P/E) ratio was 13.36. The latest book value of the company is Rs 132.09 per share. At current value, the price-to-book value of the company was 1.99. The dividend yield of the company was 0.61 percent.
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