As per views of stock market analysts, day traders can purchase Aditya Birla stock on declines to achieve an intraday target of Rs 1,285.

If the stock market remains positive, the next target for the day will be above Rs 1,287. The stop loss marked for the suggested stock is Rs 1,265.

Shares of the company, on Monday (June 9), closed at Rs 1,271.70, down 3.32% on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 107704. Current EPS and P/E ratio stood at 22.57 and 56.34 respectively. The share price also touched a high of Rs 1,300 during the day. The share price has seen a 52-week high of Rs 2,502 and a low of Rs 1,151.1 on BSE.

The stock has great potential. It can still exhibit superb surge. The long term traders are recommended to hold the stock.

Aditya Birla Group, on Monday (June 9), announced its plans to acquire Apollo Sindhoori Capital Investments (ASCIL), a stock broking firm promoted by Apollo Hospitals group.

Birla Group will acquire 51% stake in ASCIL.  The other formalities of the deal will be finalized in two weeks.

Moreover, the group has decided to invest around Rs 75,000-80,000 crore in Orissa in different segments over the next few years. The proposed investment will be made in sectors including retail business, cement, alumina and telecommunications.

The group’s retail business in Orissa would be commenced in the next six months.

The other projects of Aditya Group includes Hindalco Industries’ proposed world-class aluminium complex in Koraput and Sambalpur regions at a cost of Rs. 11,000 crore, a cement project in Sundargarh district by Grasim Industries and new plans in telecom and retail segment.

Aditya Birla Nuvo reported a marginal 8.04% increase in net profit to Rs 2,430.70 million for the year ended March 2008, as compared to Rs 2,249.70 million in the previous year.

The company also recommended a dividend of 57.5% that is Rs 5.75 a share of par value Rs 10 each for the year ended Mar. 31, 2008.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes SRF, JBF Industries and Nirlon.