Nirmal Bang has maintained 'Buy' rating on Videocon Industries Ltd stock to achieve a short term target of Rs 205.

According to experts at Nirmal Bang, the stock has broken the consolidation phase and ready for a big rally.

The scrip has very strong support at Rs 150-140.

Shares of the company, on Tuesday (May 26), ended at Rs 164.95 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 392 and a low of Rs 82 on BSE. Current EPS and P/E of the stock stood at 24.58 & 6.88 respectively.

Videocon Industries, on May 13, announced that it is planning to invest about Rs 1.5 billion to Rs 2 billion on marketing during the existing year (2009).

It is discovered that in 2009, the company is concentrating more on reaching the rustic areas and strengthening product range across categories.

Mr. Jaideep Rathore, Videocon chief marketing officer, feels that the rustic area has not been affected by the economic slump.

He added that the majority of the planned exclusive retail stores would be established at the regional level aimed at reaching rustic markets.

During the last month, the company said that it is making an ambitious entry into the direct-to-home (DTH) services with strategies to get hold of 10 million subscribers by the next 6 years.

The group also made a soft launch of its `Videocon D2H` services in April 2009 in Macau in the presence of its 2,500 dealers.

In 2009, the company aims to add 15 lakh subscribers and anticipates adding similar number every year.