With a book value of 80-100 and a market cap of 500-550 cr the stock looks interesting for a long term perspective as well.
It also quoted at 800 in the good old times of 2008. With almost 10k acres of land bank the company may do better in the future.
Technical reasons are pretty simple.
Double Bottom followed by good volumes over last 3-4 months alongwith promoter increasing stake. Breakout to be seen above 35 giving a sharp move to 40/50 in short term.
Accumulate with a closing stoploss of 32.
Disclosure: Have recommended to clients as well.
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