Technical analyst Salil Sharma has maintained 'buy' rating on Steel Authority of India Limited (SAIL) stock with a target of Rs 186.
According to analyst, the investors can hold the stock with a stop loss of Rs 177.
The stock of the company, on December 01, closed at Rs 181.05 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 258.55 and a low of Rs 170.70 on BSE.
Current EPS & P/E ratio stood at 14.59 and 12.56 respectively.
Steel Authority of India (SAIL) and Kobe Steel, on Nov 30, inked a MOU for wide-ranging strategic alliance convening technologies, projects and other regions.
Hiroshi Sato of Kobe Steel and C S Verma of SAIL inked the MOU in the company of P K Misra, Secretary (Steel) Government of India, and top functionaries from Kobe Steel and SAIL on November 30 in Tokyo.
SAIL and Kobe Steel have already started a feasibility study for the JV, which makes use of Kobe Steel's ITmk3 iron manufacturing process.
On Nov 12, SAIL signed a collaborative agreement with CBMM (Companhia Brasileira de Metalurgia e Mineracao of Brazil) Technology Suisse SA, which is based in Geneva, Switzerland.
The deal intends at increasing SAIL's market share in the special steels section.