Technical Analyst Parsh Zaveri of Zaveri Investment has maintained 'buy' rating on Jindal Steel & Power Limited (JSPL) stock with a target of Rs 698.

Mr. Surekha said that the stock can be purchased with a stop loss of Rs 673.

The stock of the company, on April 20, closed at Rs 677.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 754 and a low of Rs 610 on BSE.

Current EPS & P/E ratio stood at 21.04 and 32.79 respectively.

After one earlier unsuccessful effort to get hold of Australian coal miner Rocklands Richfield, JSPL is at it yet again with a second attempt.

JSPL has made an open offer to get hold of all the company's shares at $0.25 a share rating it at $88 million.

JSPL (Australia) Pty Ltd, a completely owned arm of Jindal Steel and Power Ltd has started the open offer that will begin on May 5 and will conclude on June 6.

Jindal Steel and Power, via its Mauritian division, Jindal Steel and Power (Mauritius) Ltd possesses 14.46% equity stake in Rocklands Richfields.

Jindal has named Wilson HTM to function as its on-market broker for the share acquisition.

Wilson HTM stated, "Jindal considers that Rocklands represents an important addition to Jindal's coal exploration activities in Australia. Jindal considers that it is well placed to ultimately bring the asset to development and production, creating future jobs and opportunities for the people of Queensland and a potential important feedstock for Jindal's international steel manufacturing activities."