Buy Rolta India With Stoploss Of Rs 127.45: VK Sharma

Buy Rolta India With Stoploss Of Rs 127.45: VK SharmaStock market analyst VK Sharma maintained ‘Buy’ rating on Rolta India to achieve an intraday target of Rs 135.

According to Mr. Sharma, interested traders can buy the stock around 130.05 with a strict stop loss of Rs 127.45.

The shares of the company, on Friday (July 17), closed at Rs 130.05 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 19.85 & 6.91 respectively. The share price has seen a 52-week high of Rs 360 and a low of Rs 40.70 on BSE.

It is clear from the company’s charts that it has been going up, attaining higher peaks and higher troughs since early March low of Rs 40, whish is in fact its 52-week low.

But, after registering a high of Rs 152 on June 10, Rolta India was on a corrective fall till Rs 105 and got support. Finding support around Rs 105, the company’s stock restarted its intermediate-term uptrend recently. The company’s stock gained more than 10% over the past two trading sessions, strengthening the uptrend. Both the daily and weekly relative strength index (RSI) are moving towards the optimistic zone in the neutral region.

Rolta India, in June 2009 has bought back FCCBs worth $38.31 million following its offer for repurchasing the bonds.

Rolta India launched the tender offer on June 22 that concluded on June 25.

The offer was for redemption of a total principal amount of its outstanding FCCBs of $150 million due in 2012.

Rolta is an Indian MNC, which has executed projects in more than 40 nations.

Rolta is a strong player in the Defense, Homeland Security & Government; Communication & Utilities; and Oil, Gas & Petrochemicals, throughout the world.