The short term averages are below the long term averages suggesting no investor confidence in the stock. The long term oscillators are down so weakness may continue. Some short term rallies might happen and that should be used as an opportunity to exit. Target 235-250.The company has 16 BOT projects out of which 10 are operational and 6 are under various stages of development. The company may bag part of the 3,500 to 4,000 km of project likely to be awarded over next four months.

The long term trend in the stock that was up for the last 6 quarters has been threatened after the realty funding scam surfaced. All the oscillators are in the negative zone and there are no signs of a trend reversal. The company’s ratings have not been affected despite the realty funding scam. The company has grown exponentially in the last few years. The stock is trading at a PE multiple of 10 suggesting attractive valuations.

The stock is showing weakness for the last 5 weeks. However, the stock is trading above a rising trend line on the weekly chart. Hold with a stop loss of 155.The stock is trading close to its book value at a PE of 13, so the valuations are attractive. The company has a high capital adequacy ratio and the net interest margins are attractive.