Stock market analysts are of the view that investors can sell Housing Development and Infrastructure Ltd (HDIL) stock with a target price between Rs 321-318.

According to them, investors can sell the stock below Rs 325 with a strict stop loss of Rs 329.

If the stock fell below Rs 315, it may see more weakness.

Shares of the company, on Thursday (Oct 29), closed at Rs 329 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 410.80 and a low of Rs 62.50 on BSE. Current EPS & P/E ratio stood at 18.25 and 18.68 respectively.

After selling the stock, the interested investors can enter the stock again at a low price, for medium or long term prospective.

The depression in realty market, mainly in the commercial properties' sector, has pushed down HDIL's profits. The company's profit fell 44.07% to Rs 148.59 crore as against Rs 265.68 crore during the corresponding quarter of the last financial year.

HDIL also witnessed its income descending by 25.93%. The income for the second quarter of the existing fiscal stood at Rs 353.70 crore.

After the results declaration, HDIL's shares dropped 3.53% on Thursday.

The company's half year profit was down 56.12%. HDIL recorded half yearly profit of Rs 256.06 crore, which recorded a fall of 38.04%.

While updating on the quarterly outcomes, HDIL also said that it has brought the arrears to a great extent.

Moreover, HDIL is thinking over a non-convertible debenture (NCD) issue by 2010 in order to lessen its borrowings costs that are presently at 12%.