Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on GMR Infrastructure to achieve a target of Rs 148 in the coming days.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 117.

Today (July 09), the shares of the company opened at Rs 125.85, as against it last closure of Rs 125.20 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 0.54 & 236.30 respectively. The share price has seen a 52-week high of Rs 183.50 and a low of Rs 45.60 on BSE.

Mr. Gujral said that investors must buy the stock to reap good returns.

GMR Infrastructure, on July 01, said that it has decided to withdraw its qualified institutional placement owing to subsisting market conditions.

It is discovered that GMR Infra struck down a share sale because of weak investor demand even after cutting the size by four-fifths to $100 million.

The company had rolled out a $500 million share sale in June 2009 amid a flurry of equity offers by Indian firms worth around $2 billion.

The GMR Group in June 2009 declared that a consortium headed by the company has came out as the lowest bidder in an international competitive bid for the Chennai Outer Ring Road (ORR) project in Tamilnadu on a design, build, finance, operate and transfer (annuity) basis.

GMR Energy, the subsidiary of Bangalore-based infrastructure major, GMR Infrastructure, on June 13, has supported a Rs 4 billon investment plan to reposition and resume its barge-mounted naphtha fired power project from Mangalore on the west coast to Kakinada on the east coast in Andhra Pradesh.

The new facility, which will make use of natural gas as basic fuel, will start its working by March 2010.