AVOID: DELTA CORP

Dear kaushik ji,
I am planning to buy DELTA CORP. Can I buy at current market rate (87)?
Kindly give your advice to me.
Thanking you
Harish Shetty
Mangalore
1. Book value of delta corp. ltd is 15.31 only and share traded at 89.05 so this is not a value buying this is a risky buy at this level.
2. Delta corp. ltd face value is 1 rupee only so if we compare CMP with a 10 rupee face value stock then it is 890.50 I think price of delta corp. is very high at this level.
3.Delta Corp Ltd. (Formerly Arrow Webtex Limited) has been engaged in the business of textiles and real estate development / consultancy. Having started as a pure textile player, Delta Corp Limited has transformed into a diversified company, with interests in real estate (in India as well as East Africa), gaming and entertainment, aviation, and hospitality. Delta Corp has de-merged its textile business into a new entity which is now called Arrow Textiles Limited.
4. EPS of delta corp. is 0.80 only means share traded at P/E of 111.25 this is a very high valuation for any stocks.
5. year high of delta corp. is 96.30 and share correct from there ( year low of delta corp. is 31 )
6. promoter holding in delta corp. ltd is 48.40 % which is normal
7. so overall I think valuation of delta corp. is very high and my view is negative for this stock.
8. i have no any share of delta corp. ltd.
9. visit company website at http://www.deltacorp.in/
key words:- target for delta corp ltd fundametal analysis buy sell recomandation