Technical Analyst Prasad Kushe has maintained 'hold' rating on Videcon Industries Ltd stock to achieve a long term target of Rs 300-400.

According to analyst, the investors can achieve the said target in the period of 1-2 years after crossing its resistance of Rs 250.

Today, the stock opened at Rs 203.70 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 269.50 and a low of Rs 146.90 on BSE.

Current EPS & P/E ratio stood at 24 and 8.33 respectively.

The company declared a phenomenal growth in its standalone net profit for the three month period ended March 2010.

During the period under review, the company's profit rose 2.05 times to Rs 1,496.50 million as against Rs 729.80 million during the corresponding quarter of 2009.

Net sales during the period increased 28.29% to Rs 28,408.30 million, whereas total income went up by 28.17% to Rs 28,461.60 million.

The company recorded EPS of Rs 6.47 during the quarter, posting 2.03 times increase over last year period.

Moreover, the company's directors have sanctioned fund raising upto Rs 2161 crore through Equity Instruments (Rs 1000 crore via QIP, issue Rs 1000 crore via ADR or GDR and Rs 161 crore via preferential allotment).