Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "I am quite bearish on Steel Authority of India (SAIL) because few days back it fell below 200 day moving average. It is making lower tops and lower bottoms and it can go down to around Rs 70. So, even at current level one can go short with a stoploss of Rs 78.50."
At 13:22 hrs Steel Authority of India was quoting at Rs 76.35, down Rs 1.70, or 2.18 percent. It has touched an intraday high of Rs 77.90 and an intraday low of Rs 75.45.
The company's trailing 12-month (TTM) EPS was at Rs 5.24 per share. (Sep, 2014). The stock's price-to-earnings (P/E) ratio was 14.54. The latest book value of the company is Rs 103.30 per share. At current value, the price-to-book value of the company was 0.74. The dividend yield of the company was 2.65 percent.
Disclosure: Analyst has no personal holdings in the stock but has recommended the stock to his clients.
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