Technical analyst Hitendra Vasudeo is bullish on Ambuja Cements Limited and has maintained 'buy' rating on the stock.

According to the analyst, the interested investors can buy the stock with a target of Rs 134.60.

He said that if the stock market remains positive, the next target for the day will be Rs 139.60.

Mr. Vasudeo said that the stock can be purchased with a stop loss of Rs 129.

The stock of the company, on March 17, closed at Rs 132.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 166.50 and a low of Rs 100 on BSE.

Current EPS & P/E ratio stood at 8.11 and 16.36 respectively.

Cement manufacturer Ambuja Cements has registered an increase of 4.97% in its Feb sales, which stood at 17.74 lakh tonnes.

Ambuja Cements, in which Swiss major Holcim holds the majority equity stake, sold 16.9 lakh tonnes cement during February last year (2010).

The company said that its yield of the building material also increased to 17.91 lakh tonnes during Feb 2011 as compared to 16.84 lakh tonnes during February 2010.

In the month of January, the company's sales as well as production remained at 18.4 lakh tonnes and 18.44 lakh tonnes, respectively.