Nooresh Merani of AMSEC told CNBC-TV18, "JSW Steel and Tata Steel are highly overbought but at the same time we are looking at a couple of other stocks like Jindal Steel & Power (JSPL) and Hindalco Industries; these are two stocks which have given fresh breakout. So, I would prefer to get into JSPL and get out of JSW Steel at current levels. So, I am looking towards Rs 290 levels on JSPL in the short-term."
The share touched its 52-week high Rs 473.90 and 52-week low Rs 181.55 on 20 December, 2012 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 13.63. 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 2.03. The dividend yield of the company was 0.6 percent.
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