Stock market analyst Rajesh Gupta of Fairwealth Securities has maintained 'buy' rating on Nahar Spinning Mills Ltd stock with target between Rs 116-117.

According to analyst, the interested investors can buy the stock around Rs 112.55 with strict stop loss of Rs 110.5.

The stock of the company, on August 16, closed at Rs 111.30 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 117.65 and a low of Rs 40 on BSE.

Current EPS & P/E ratio stood at 16.91 and 6.65 respectively.

In standalone net profit for the quarter ended June 2010, Nahar Spinning Mills Ltd posted 2.00 times increase to Rs 152.38 million.

The company registered a standalone net profit of Rs 76.16 million during the corresponding period of 2009.

The company's net sales during Apr-Jun period grew by 14.93% to Rs 2,957.21 million.

The total income for the quarter increased by 14.45% to Rs 2,959.20 million as against the same period of 2009.