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Bhushan Steel has target of Rs 590: Gujral

22 Oct 10 11:48 AM
Money Control
Bhushan Steel has target of Rs 590, says Technical Analyst, Ashwani Gujral.

Gujral told "Bhushan Steel is the strongest steel stock, which is almost at new highs, so we buy this a stoploss of about Rs 504. While other metal stocks got hammered last 2-3 days this one is sideways and started moving up yesterday. The target in the short term could be closer to Rs 590."

The company's trailing 12-month (TTM) EPS was at Rs 40.65 per share. (Jun, 2010). The stock's price-to-earnings (P/E) ratio was 13.36. The latest book value of the company is Rs 186.24 per share. At current value, the price-to-book value of the company was 2.92. The dividend yield of the company was 0.09%.