The stock trades at a P/E of 5 times for FY06E and 4.3 times for FY07E. From a high of Rs 206 in March 2006, the stock has corrected significantly and touched a low of Rs 88 couple of days back.
In the weekly chart the stock has taken support at 200 MA and is now looking to bounce back. One can buy the stock with stop loss of 90 and look for the near term target of Rs 140. Once the stock moves beyond 150, the next target could be Rs 190.