Stock market analysts have maintained ‘buy’ rating on Hindalco Industries Ltd with an intraday target of Rs 150.

According to them, interested traders can purchase the stock above Rs 148 with a strict stop loss of Rs 146.50.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 152.

Shares of the company, on Thursday (Dec 03), closed at Rs 112.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 147.70 and a low of Rs 36.90 on BSE.

Current EPS & P/E ratio of the stock stood at 9.63 & 15.44 respectively.

Hindalco Industries, a flagship company of the Aditya Birla group, has assigned 2.13 billion equity shares carrying a price of Rs 1 each to QIBs at a premium of Rs 129.30.

The company’s board took the decision during its conference held on Dec 01, 2009.

The company on Dec 02 hit a 52-week high level as it increased its product costs with effective from Dec 1, 2009.

Hindalco raised its product costs by Rs 3000 per tonne.

The stock touched a peak of Rs 147.70 on Thursday, which is a 52-week high for the counter.

Late last month, Hindalco lifted around Rs 2900 crore via private placement of shares to QIBs.