Stock market analysts are of the view that investors can buy Grasim Industries Ltd stock to achieve an intraday target between Rs 2315-2330.

According to them, investors can buy the stock above Rs 2300 with a strict stop loss of Rs 2280.

Shares of the company, on Thursday (Nov 12), closed at Rs 2266.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 2938 and a low of Rs 872 on BSE. Current EPS & P/E ratio of the stock stood at 278.50 & 8.21 respectively.

Aditya Birla group flagship Grasim Industries has posted a 61% growth in its net profit, which stood at Rs 674 crore for the three month period ended September 30, 2009.

The company's second quarter net profit has recorded sturdy growth in spite of higher interest cost, higher depreciation and a big increase in tax costs.

Firm volumes pushed net grosses up 12% at Rs 3,026 crore from Rs 2,703 crore last year.

During the period, the company's cement output came up by 27% at 4.63 million tonne. Sales volumes recorded a surge of 23% at 4.56 million tonne owing to growth in demand in the northern and eastern zones.

In the ready-mix concrete business, the company performance was affected by the retardation in the realty segment.

An overall capital expenditure of Rs 4,150 crore has been reserved for the cement sector including an outlay of Rs 2,055 crore for UltraTech Cement. This is projected to be invested by the next
3 years.

The company said industry demand is likely to come up at around 9% yearly by 2014.