Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on GVK Power & Infrastructure to achieve an intraday target of Rs 50.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 36.

Shares of the company, on Thursday (June 18), closed at Rs 39.60 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 0.15 and 271 respectively. The share price has seen a 52-week high of Rs 50.50 and a low of Rs 10.30 on BSE.

Mr. Gujral also said that if the stock market remains on positive track, the stock can touch a new 52-high in today’s session, and reach above Rs 53.

GVK Power & Infrastructure Ltd, on June 6, said that its wholly owned arm GVK Power (Goindwal Sahib) Ltd has signed the ‘Amended and Restated Power Purchase Agreement’ with the Punjab State Electricity Board (PSEB).

Under the agreement, the company will implement 2 x 270 MW Coal based Thermal Power Plant at Goindwal Sahib, Taran Taran District, Punjab.

The company also said that its arm Gautami Power has started commercial operations for its 464 mega watt (MW) Gas Based Power Project constructed at IDA, Peddapuram, East Godavari District, Andhra Pradesh.

GVK Power and Infrastructure Ltd, on June 03, announced that it has decided to lift around Rs 2,500 crore by selling equity to institutional buyers and utilize funds to invest in its divisions.

The firm runs in infrastructure sections including power, airports, seaports, roads, coal mining, oil and gas, urban infrastructure and special economic zones via its subsidiaries.