This stock has corrected more than 40% since the Housing loan scam. But at current levels this stock is going to attract buying into this counter. As per our analysis we see this stock trading at P/E around 11.3, Book value is at 74.25. Fundamentals of the company remains strong and healthy. The fact for buying this stock is, the assets of the company are worth more than the marketcap of the company at current market price of 86.
Looking at these strong fundamentals we recommend to buy this stock for short term, Enter Buy position around 80 – 84, for target of 109 / 126. Stop loss should be placed near 74 levels.
Definitely good stock to buy, with 23% upside expected.
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