Stock market analyst Ashwani Gujral has maintained 'Buy' rating on JSW Steel to achieve a short term target of Rs 140.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 108.

Today, the shares of the company opened at Rs 118.10 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 9.63 and 12.51 respectively. The share price has seen a 52- week high of Rs 143.15 and a low of Rs 36.90 on BSE.

Hindalco Industries announced a slump in its standalone net profit for the three month period ended September 2009. During the quarter, the company's profit dropped 52.21% to Rs 3,440.50 million as against Rs 7,199.50 million in the same quarter last year.

Net sales during the quarter declined 12.76% to Rs 49,171 million, while total income for the quarter fell 14.43% to Rs 49,744.00 million, when compared with the prior year period.

The company registered earnings of Rs 2.02 per share during the quarter, recording 65.59% fall over prior year period.

Hindalco Industries, in Oct 2009, declared that its directors have given their sanction to the plan to lift up investment limit of foreign institutional investors (FIIs) to 40 per cent.

Further, the company's board has also okayed raising of long term funding through QIP/GDRs and/or other securities with or without green shoe option up to Rs 29 billion rather than earlier authorization of Rs 24 billion.

The sanction of shareholders for the abovementioned decision is still awaited.