Technical analyst Nikita Surekha has maintained 'buy' rating on Hindustan Construction Company Limited stock with a target of Rs 46-47.

According to analyst, the stock can be purchased with a stop loss of Rs 39.80.

The stock of the company, on Nov 29, closed at Rs 40.05 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 81.10 and a low of Rs 41 on BSE.

Current EPS & P/E ratio stood at 1.62 and 26.53 respectively.

On Nov 19, Hindustan Construction Company (HCC) said that Lavasa Corporation, HCC's arm, got observation letter from the market regulator Securities and Exchange Board of India (SEBI) for its planned Initial Public Offering (IPO) of Equity Shares for a sum not surpassing Rs 20 billion.

Hindustan Construction Company (HCC) recorded an increase of rise of 2.20 times in its net profit, which stood at Rs 121.37 million for the three month period ended Sept. 30, 2010 as against Rs 55.15 million for the same period of last year.

Total income surged 13.62% to Rs 8,906.78 million for July-September period ended Sept 2010 from Rs 7839.124 million for the three month period ended Sept 2009.