Technical analyst Aashish Tater of Fort Share Broking is bullish on Atlas Cycles (Haryana) Limited and has maintained 'buy' rating on the stock.

According to the analyst, the interested investors can buy the stock at Rs 210-220 with a target of Rs 260-270.

The stock of the company, on March 16, closed at Rs 221.95 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 306.70 and a low of Rs 200 on BSE.

Current EPS & P/E ratio stood at 12 and 18.60 respectively.

For the three month period ended December 2010, Atlas Cycles (Haryana) registered a phenomenal growth in its standalone net profit.

During the period under review, the company's profit grew by 52.81% to Rs 13.60 million.

The company had a net profit of Rs 8.90 million during the corresponding period of 2009.

Atlas Cycles Ltd said that the net sales during the quarter increased 24.42% to Rs 2,011.30 million.

The company's total income for the three month period surged 23.94% to Rs 2,019.70 million as against the same period of 2009.