Stock market analyst Parsh Zaveri of Zaveri Investments has maintained 'buy' rating on Areva T&D Ltd stock with a target of Rs 320.

According to analyst, the stock can be purchased with a stop loss of Rs 293.

Mr. Parsh also said that the said target can be achieved with in 4-5 trading sessions.

Today, the stock of the company opened at Rs 303.30 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 331.45 and a low of Rs 235.10 on BSE.

Current EPS & P/E ratio stood at 6.77 and 44.26 respectively.

Areva T&D India Ltd announced that its quarterly net profit surged over two-folds to Rs 62.95 crore as against the same period of 2009.

During the third quarter ended September 30, the company's net income surged to Rs 1047.85 crore as compared to Rs 750.95 crore in the corresponding period previous year.

For the first nine-month period (Jan-Sep), the company's net profit fell to Rs 98.66 crore as against Rs 123.92 crore during the same period of 2009.

The company's net income grew to Rs 2,709.98 crore during Jan-Sep period as against Rs 2,423.32 crore during the same period of 2009.

Areva T&D India, the country's top maker of power transmission and distribution products, will speed up its plans to move ahead with sale of old assets after termination of the open offer phase by the Alstom-Schneider consortium.

Areva T&D makes various transmission and distribution equipment like transformers, circuit breakers, gas insulated switch gears, generator circuit breakers, instrument transformers, defense relays and power system mechanization equipment, and is currently leading the market area in the majority of the sections.