Stock market analyst E Mathew has maintained ‘Buy’ rating on Sical Logistics stock with a short term target of Rs 190.

According to Mr. Mathew, interested investors can purchase the stock on declines with a stop loss of Rs 133.

Mr. Mathew also said that the investors can achieve the target within a period of 4-5 weeks. The stock has been recommended after analyzing its last performances.

Shares of the company, today (April 17), opened at Rs closed at Rs 180 as compared to its last closure at Rs 173.77 on the Bombay Stock Exchange (BSE). Current (at 1:47 pm) EPS and P/E ratio stood at 9.49 and 18.76 respectively. The share price has seen a 52-week high of Rs 370 and a low of Rs 127 on BSE.

Sical Logistics, on 20 March, stated that it achieved financial closure for its greenfield iron ore terminal project at Ennore Port.

Yes Bank acted as the lead arranger and sole underwriter for the Rs 3.4 billion loan, the other members of the loan syndicate being United Bank of India, UCO Bank and India Infrastructure Finance Company.              

The project is being undertaken by a special purpose vehicle (SPV), Sical Iron Ore Terminals, promoted by Sical Logistics with 89% equity stake, and L&T Infrastructure Development Projects.

The iron ore terminal is being developed on a build-operate-transfer (BOT), revenue-sharing contract with Ennore Port for 30 years including the construction period.

At first, the terminal will handle Panamax and Cape sue vessels up to 150,000 MT DWT; after dredging, the terminal would be able to handle vessels of 250,000 MT DWT. Other features include the capability of an average 75,000-tons-per day ship loading rate; a stockpile area that can store 2.4 million MT of Iron ore; and a railway wagon unloading system that can handle up to twelve 3500-tonne rakes per day.

Construction work at the terminal began recently. In-principle approval has also been obtained from the Indian Railways for dedicated rail siding.

Other stocks from the same sector that looks good for short term trading includes MMTC Ltd, Rei Agro and UB Holdings.