Technical analyst Kiran Jadhav has maintained 'buy' rating on Indraprastha Gas Ltd stock with a target of Rs 341.

According to analyst, the investors can hold the stock with a stop loss of Rs 311.

The stock of the company, on November 29, closed at Rs 328.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 373.70 and a low of Rs 168.50 on BSE.

Current EPS & P/E ratio stood at 16.71 and 19.69 respectively.

Indraprastha Gas Ltd posted a growth of 17% in its net profit, which stood at Rs 66.27 crore for the three month period ended September 30.

The only supplier of CNG and piped gas in New Delhi had a net profit of Rs 56.80 crore in the July-September quarter last fiscal.

The profit increase was mostly owing to a 63% surge in sales, which stood at Rs 501.06 crore.

Sale of compressed natural gas (CNG) to automobiles augmented by 19% to 1,556 lakh kgs whereas gas sold to households remained up by 88%.

The company plans to invest Rs 3,000 crore on a massive expansion programme in Delhi plus in the neighboring Noida, Greater Noida and Ghaziabad regions by the next five years.

The company eyes to add 38 more CNG retailing stations by March next year to its subsisting network.