Stock market analyst Rajesh Satpute has maintained 'buy' rating on Gujarat Mineral Development Corporation Ltd (GMDC) stock with a target of Rs 154.

According to analyst, the stock can be purchased with a stop loss of Rs 140.

The stock of the company, on Nov 18, closed at Rs 145.85 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 187.70 and a low of Rs 111.50 on BSE.

Current EPS & P/E ratio stood at 10.13 and 14.45 respectively.

Gujarat Mineral Development Corporation Ltd's quarterly profit grew by 46.78% to Rs 558.30 million as against Rs 380.35 million during the same quarter of 2009.

The company has decided to establish a pyrite removal facility in Bhavnagar and a lime crushing facility in Kutch region.

The company will invest around INR 25 crore on this project.

The pyrite removal facility with an annual capacitance of 1.5 million tonnes will include investment worth INR 22 crore.

On the other hand, the lime crusher to be established at Panandhro with a total investment of INR 2.5 crore will have an twelve monthly capacity of 200,000 tonnes a year.

Mr. VS Gadhvi MD of GMDC stated, "We have nominated the agency which will make these investments. After clearance from the Gujarat Pollution Control Board, we expect these plants to commence work in the next few months."