Stock market analyst Hitendra Vasudeo of stockmechanics. com maintained 'Buy' rating on Bhushan Steel Ltd to achieve a short term target of Rs 1444.

According to Mr. Vasudeo, interested investors can buy the stock around Rs 1356-1332 with a strict stop loss of Rs 825.

Today, the shares of the company opened at Rs 1362.80 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 117.31 & 11.64 respectively.

The share price has seen a 52-week high of Rs 1430 and a low of Rs 260.05 on BSE.

Bhushan Steel's 2QFY10 net sales dropped 14 per cent YoY to Rs 13 billion due to a 26 per cent YoY fall in realizations and a 16 per cent enhancement in volumes.

The company's sturdy volume growth in commercial steel was assisted by a well-built client base of OEMs in flat products and firm cost controls.

EBITDA per ton has bettered considerably to Rs 10,095 during the last few quarters that aided the company`s EBITDA to develop 3% YoY to Rs 3.4 billion.

The company's adjusted PAT arose 32 per cent YoY to 1.9 billion.

The company's value-added products section brought 52 per cent to the company's revenue. Analysts anticipate EBITDA per ton to go up considerably once the HSM project gets accredited.

Bhushan Steel has received an allocation of one iron ore mine, two thermal coal blocks and one coking coal block in Orissa and West Bengal.

The company has also adopted bulk stake in Bowen Energy that has various coking coal tenements in Australia. Therefore, raw material integration is expected to develop significantly.