CMP: Rs 1,330 (as of Friday)
- I have initiated coverage on the stock at Rs 214 in 2005, which gives an absolute return of 521% and a return of almost 261% on an annualised basis.
- The price target of Rs 1,352 has been achieved with the stock going on to make a 52-week high of Rs 1,385 on August 10, 2007.
- I recommend that investors book profit as most of the positives relating to the stock are already factored in its price and the risks to its valuations appear more than the rewards it promises at this juncture.
