Technical analyst Ambareesh Baliga of Way2Wealth has maintained 'hold' rating on Pipavav Shipyard Limited stock.

According to analyst, the investors can buy the stock with a target of Rs 100-105.

The stock of the bank, on April 18, closed at Rs 89.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 119.95 and a low of Rs 66 on BSE.

Pipavav Shipyard Ltd is making discussions to sell around 26% equity stake to an unidentified buyer.

Mr. Nikhil Gandhi, chairman of the company, said, "We are likely to conclude the sale in less than two weeks."

Mr. Nikhil refused to name the purchaser.

In the month of June, Mr. Gandhi stated that the company planned to lift up $500 million by selling a 26% equity stake and was making discussions with one Indian and two overseas capitalists.

But, Pipavav afterward stated that it had put its stake sale proposal on hold as market situations were not favorable.