Adani Enterprises may rally to Rs 240, says Kulkarni

Written By Unknown on Selasa, 16 April 2013 | 20.07

Adani Enterprises is expected to rally towards Rs 240. One can keep a stop loss of Rs 210 for the stock, says Shardul Kulkarni of Angel Broking.

Kulkarni told CNBC-TV18, "Adani Enterprises is in a sideways zone right now. Rs 190 to Rs 250-255 but what we are seeing is that in this particular range we are expecting the stock to move higher from current levels. So my target on the upside is around Rs 240 and Rs 210 is a good stop loss. It is forming a small higher top higher bottom cycle on the daily charts so I think the next eight-ten trading sessions will be quite positive for Adani."

The company's trailing 12-month (TTM) EPS was at Rs 7.13 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 30.79. The latest book value of the company is Rs 90.94 per share. At current value, the price-to-book value of the company was 2.41. The dividend yield of the company was 0.46 percent.



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