Technical analyst Ashish Chaturmotha of IIFL Wealth has maintained 'buy' rating on Grasim Industries Ltd stock to achieve a long term target.

According to analyst, the stock can be purchased to attain a target of Rs 2480 with a stop loss of Rs 2350.

Today, the stock of the company opened at Rs 2388 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2510 and a low of Rs 1748 on BSE.

Current EPS & P/E ratio stood at 224.07 and 10.87 respectively.

Grasim Industries, a division of Aditya Birla Group, is eyeing to get hold of extra land for growth next to the company's Malkhed Rajshree cement facility.

Administration authorizations and land purchase nod are projected this month.

The development will lift up the company's existing annual production capacitance by 4.25 million tons.

Grasim Industries Limited is placed among the country's biggest private sector firms, with consolidated net income of Rs 202 billion and a consolidated net profit (before extraordinary items) of Rs 27.6 billion (FY2010).