Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on India Cements to achieve a target between Rs 163 – Rs 170 in the coming days.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 138.

Today, the shares of the company opened at Rs 149 as against its last closure of Rs 147.60 on Friday (July 17) on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 15.30 & 9.65 respectively. The share price has seen a 52-week high of Rs 180 and a low of Rs 68.50 on BSE.

Apart ffrom Mr. Gujral, technical Analyst Sudarshan Sukhani is of the view that India Cement would be the top pick in cement segment.

Sukhani said, "Cement was strong but I am relatively down beat on cement. I think cement is toping out and we should see lower levels. If at all you want to go for cement then India Cement a midcap company would be my top pick in that sector"

India Cements Ltd announced that the meetings of the Audit Committee and company’s directors will be held on July 22, 2009, to consider unaudited financial results (subjected to a "limited review" by the auditors of the Company) for the three month period ended June 30, 2009 (Q1).

At its meeting held on July 07, 2009, India Cements Ltd has declared that the company’s Compensation Committee of the Board of Directors allotted 70,000 Equity Shares of Rs 10/- each fully paid-up at a premium of Rs 40 a share to the employees who have worked out their stock options under ICL ESOS, 2006.

As a result, the company’s Paid-up Equity Share Capital has climbed up from Rs 282.46 crores to Rs 282.53 crores.

For the year 2008-09, the company’s directors recommended a dividend of Rs 2/- per equity share of Rs 10/- each on June 27.