ISMT Ltd has an intraday target of Rs 104-107. Interested investors can buy the stock around Rs 100. The stop loss is at Rs 98.

The stock performed brilliantly on Monday, and gained more than 11% and closed at Rs 100.10.

There are also big hopes that it will perform strongly today and achieve the said target.

The Indian Seamless Metal Tubes Limited was promoted in 1977 by a group of technocrats to produce specialized seamless tubes in India. Beginning with an installed capacity of 15,000 metric tons per annum, ISMT commenced production in 1980 with the installation and commissioning of an Assel mill in technical collaboration with Mannesman Demag Meer of Germany.

Subsequently, in 1990 the production capacity was raised to 50,000 metric tons per annum with the addition of a second Assel Mill. In 1995 The Indian Seamless Metal Tubes Limited promoted another company, Indian Seamless Steels and Alloys Ltd. (ISSAL), to produce alloy steel, the raw material used in the manufacture of seamless tubes, giving ISMT better control over product quality as well as deliveries.