Buy Reliance Comm, says Sukhani

Written By Unknown on Jumat, 15 Maret 2013 | 14.02

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Reliance Communications for short term.

Sukhani told CNBC-TV18, " Reliance Communications is actually a short-term buy. It has been in a choppy market for the last five-seven days. That choppiness has finally led to a breakout yesterday because of news or whatever. It is not news alone, if the technical do not support the news become irrelevant. So, technical are supporting a rally."

He further added, "After yesterday's breakout I would not suggest going head long into it, wait patiently for intraday consolidations or dips and then consider buying. But it is a buy. It is not a long-term buy. We are only talking of a couple of days of a rally or three days."

The company's trailing 12-month (TTM) EPS was at Rs -3.67 per share. (Dec, 2012). The latest book value of the company is Rs 218.97 per share. At current value, the price-to-book value of the company was 0.31. The dividend yield of the company was 0.37%.



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