Nirmal Bang, one of the leading equity research-cum-broking house, has recommended a buy on Alstom Projects with a short term target.

The report further stated that, if the counter is successful to breach 535, then it will hit Rs 595.

Interested investors can buy the stock on dips and hold.

In addition, the firm has suggested a support level for the scrip at Rs 512.

Today (Sept 01), the shares of the company opened at Rs 529.70 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 22.88 & 22.95 respectively. The share price has seen a 52-week high of Rs 565.90 and a low of Rs 191 on BSE.

Alstom Projects India Ltd, on Aug 06, declared that ICRA has reaffirmed the ranking of "LAA" for Rs 47.50 crore fund based limits and Rs 1942.21 crore long term non fund based limits. The assigned rating points out high-credit-quality rating.

ICRA has also reaffirmed an "A1+" ranking to Rs 1942.21 crore short term non fund based limits showing the lowest credit risk in the short term.

This is highest-credit-quality rating assigned by ICRA to short-term debt instruments.

Alstom has supplied over 25 per cent of the world's installed power generation capacity. In equipment and services for the rail transport division, Alstom is the innovator and undisputed head in very high-speed trains, and is building up high-tech solutions for urban transport systems.

The group has around 80,000 people in 70 nations, serving customers worldwide.