Stock market analyst Ashwani Gujral has maintained 'sell' rating on Housing Development and Infrastructure Ltd (HDIL) to achieve a target of Rs 311.

According to Mr. Gujral, interested investors can buy the stock with a strict stop loss of Rs 366.

Mr. Gujral said that after selling the stock, the interested investors can enter the stock again at a low price, for medium or long term prospective.

Today, the shares of the company opened at Rs 341.10 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 11.38 and 29.87 respectively. The share price has seen a 52-week high of Rs 398 and a low of Rs 62.50 on BSE.

Vascon Engineers has pocketed a deal worth Rs 2 billion from HDIL, to plan and construct 2 million sq ft of commercial complex in Mumbai.

It is discovered that the Pune-based company would only deliver the shell - the masonry part of the building.

HDIL will look after the other works including interiors.

The commercial space would have 3 stages of basement parking and 11 floors above ground. The project is expected to be finished in the next 18 months.

HDIL's profits fell 44.07% during the three month period ended Sep 30 to Rs 148.59 crore.

HDIL also witnessed its profits declining by 25.93%.

The income for the second quarter of the existing fiscal stood at Rs 353.70 crore.