Technical analyst Ashish Chaturmotha of IIFL Wealth has maintained 'buy' rating on Housing Development and Infrastructure Limited (HDIL) stock with a target of Rs 172.

According to analyst, the stock can be purchased with a stop loss of Rs 152.

The stock of the company, on February 28, closed at Rs 158 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 328 and a low of Rs 127 on BSE.

Current EPS & P/E ratio stood at 21.26 and 7.43 respectively.

Country's biggest realty firm has made announcement about its dream project of Cybercity at Kalamassery, Kerala.

The Kerala administration has offered up a single window authorization to the project of Cybercity at Kalamassery that got hold of a complete Special Economic Zone grade from the Indian administration.

The project promoters, Blue Star Realtors Pvt Ltd, 100% owned arm of HDIL will make an investment of around Rs 2300 crores in the said project, which will be a high-tech built up space of around 10 mln sq ft in the 70 acres region at Kalamassery SEZ.

Moreover, the company (HDIL) has registered an increase of 54.77% y-o-y in its net profit for the three month period ended December 2010 at Rs 2.52 billion.

The company's total income surged 11.02% y-o-y to Rs 4.83 billion for October-December period.

HDIL has registered an increase of 11.37% in income from operations at Rs 4.55 billion from Rs 4.09 billion in the same period of 2009.

The company has recorded an EPS of Rs 6.07 per share as compared to Rs 4.71 per share in the prior year period.