Stock market analysts have maintained 'buy' rating on Housing Development and Infrastructure Ltd with an intraday target between Rs 345-348.

According to them, interested traders can purchase the stock above Rs 342 with a strict stop loss of Rs 339.

Shares of the company, on Thursday (Nov 05), closed at Rs 341.60 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 14.54 and 24.50 respectively. The share price has seen a 52-week high of Rs 410.80 and a low of Rs 62.50 on BSE.

Pune-based Vascon Engineers has pocketed an Rs 2 billion deal from HDIL, to plan and construct 2 million sq ft of commercial area at Kurla in Mumbai.

It is discovered that Vascon Engineers would only supply the shell - the masonry part of the edifice. All other related works including interiors and equips would be headed by HDIL.

For the three month period ended Sept 30, 2009, HDIL posted a fall of 44.07% in its net profit.

During the quarter, the net profit of the company, promoted by the Wadhawan group, stood at Rs 1485.90 million as against Rs 2,656.80 million for the same period of the last year.

The company's total income dropped 24.25% to Rs 3,810.50 million for the quarter under review.

HDIL recorded a drop of 25.94% in its quarterly net sales, which stood at Rs 3,537 million as compared to Rs 4,775.60 during the same quarter of the last year.

HDIL posted EPS of Rs 4.34 for the quarter ended Sep. 2009.