Nirmal Bang, one of the leading equity research-cum-broking house, has recommended a buy on Jaiprakash Hydro-Power Ltd (JHPL) with a short term target of Rs 107.

In latest research report, huge buying witnessed at lower levels. Interested investors can buy the stock on dips and hold.

In addition, the firm has suggested a support level for the scrip between Rs 85-81.

Today (June 18), the stock opened at Rs 86.95, as against its last closure of Rs 86.80 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 2.85 and 29.91 respectively. The share price has seen a 52-week high of Rs 103.70 and a low of Rs 22.65 on BSE.

Apart fron Nirmal Bang, stock market analyst, Ashwani Gujral, during the last week, has also suggested a buy on the stock with a target of Rs 126.

Jaiprakash Hydro-Power Limited (Jaiprakash Hydro), a part of the Jaypee Group, engaged in power generation. The company holds and operates the 300 MW Baspa-II hydroelectric project at district Kinnaur in Himachal Pradesh. This hydropower project is one of the country’s biggest private sector hydropower plants project.

The project is a run-of-the-river hydro-electric power facility having an installed capacity of 300 MW, designed to create electrical energy projected at 1,213.18 million units (MU) per annum. The company is headquartered in New Delhi, India.