Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy Grasim Industries with a target price between Rs 2480-2610 in the coming days.

The company is presently trading around Rs 2310-2325 level.

According to experts at Nirmal Bang, the stock may face some resistance around Rs 2525 levels, but after that it can even have more upward movement.

The scrip has very strong support at Rs 2220.

Grasim Industries, on May 13, declared Rs 13 billion capital expenditure (capex) for cement segment during the existing fiscal (FY10) for the completion of the subsisting projects and up-gradation.

Last year, the company spent a total of Rs 14.67 billion as capex.

Grasim Industries, in March 2009, has licensed its new 3.3 MTPA Clinkerisation facility at Kotputli (Rajasthan).

Grasim Industries, a flagship company of the Aditya Birla group, has commissioned its new 3.3 MTPA Clinkerisation Plant at Kotputli (Rajasthan).

The company`s principal business is manufacturing of viscose staple fibre (VSF), cement, sponge iron, chemicals and textiles. Grasim operates in five segments: fibre & pulp, which includes viscose staple fiber and rayon grade pulp; chemicals.