Technical analyst Abhishek Jain of Stocksidea.com has suggested investors to buy BNR Udyog stock for short term.

Mr. Jain expects the stock to hit a target of Rs 20.

The stock may face some resistance around Rs 14 levels, but after that it can even have more upward movement.

The scrip has very strong support at Rs 7.

Shares of the company, on Friday (July 17), closed at Rs 9.24 on the Bombay Stock Exchange (BSE). The total volume of shares traded was 20 at the BSE.

Current EPS and P/E of the stock stood at 1.35 & 6.84 respectively. The share price has seen a 52-week high of Rs 10.49 and a low of Rs 5.80 on BSE.

Mr. Jain said that the stock is looking strong technically. It will blast in short term.

BNR Udyog Ltd has declared that a meeting of the company’s directors will take place on July 29, 2009, to consider the Audited Financial Results for the year ended March 31, 2009.

The company’s directors will consider Un-audited Financial Results for the three month period ended June 30, 2009 and announcement of dividend for the financial year 2008-09.

Incorporated on Nov. 29, 1994, BNR Udyog is involved in the area of transcription, securities and financial services.

It offers underwriting aid, investment suggestion, and share broking consultancy in the primary as well as secondary markets and is a corporate member of the Hyderabad Stock Exchange.