Stock market analysts are of the view that traders can buy Patni Computer Systems Ltd stock to achieve an intraday target of Rs 490.

According to analysts, interested traders can purchase the stock around Rs 480-484 with a stop loss of Rs 472.

If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 495.

Shares of the company, on Tuesday (Nov 10), closed at Rs 486 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 5.14 and 46.35 respectively. The share price has seen a 52-week high of Rs 522.70 and a low of Rs 94 on BSE.

Global IT services provider Patni Computers chief executive officer Jeya Kumar stated that its promoters and major shareholder are not planning to shake off any equity stake in the company.

Mr. Kumar also said that India's sixth biggest software services company has decided to get hold of a company worth $200-400 million by the next three months.

He also said the company's upcoming acquisition will be financed from Patni's cash balance that stands at approx $380 million.

For the quarter ended September 30, 2009, Patni Computer has registered a decline of 17.2% in its net income, which stood at Rs 171.57 crore.

The company recorded a fall of 8.9% in its quarterly revenues to Rs 804.02 crore as against Rs 852.25 crore in the corresponding period of the last year.

Moreover, the company has also named Vijay Mehra as its executive vice president and head of business verticals.