Stock market analysts have maintained ‘buy’ rating on IVRCL Infrastructure & Projects Ltd with an intraday target of Rs 390.

According to them, interested traders can purchase the stock between Rs 383-385 with a strict stop loss of Rs 375. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 396.

Shares of the company, on Monday (Oct 12), closed at Rs 385 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 16.37 and 23.86 respectively. The share price has seen a 52-week high of Rs 400.90 and a low of Rs 56.50 on BSE.

IVRCL, ON Oct 08, pocketed an integrated project on turnkey basis, form U.P. Jal Nigam, Allahabad, under JNNURM.

The scope of the order, which is valued at Rs 2.87 billion, includes review, exploration, design, building, screening and commissioning of sewerage works in Sewerage area of Allahabad.
 
The order is likely to be finished within 36 months.

Moreover, IVRCL has also received a construction contract of 5 building towers with parking in addition to 21 floors, 11,90,000 sft region in Kakade City, Karve Nagar, Pune.

IVRCL on Oct 01 lifted up Rs 150 million through issue of unsecured redeemable non-convertible debentures worth Rs 1 million for cash at par aggregating to Rs 150 million to two banking institutions including State Bank of Indore (Rs 100 million) and State Bank of Mysore (Rs 50 million.