Stock market analyst Somil Mehta of Sharekhan has maintained 'buy' rating on Jindal Steel & Power Limited stock to achieve a target of Rs 750.

According to analyst, the interested investors can buy the stock with a strict stop loss of Rs 685.

Today, the stock of the company opened at Rs 702.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 778 and a low of Rs 585 on BSE.

Current EPS & P/E ratio stood at 17.30 and 40.69 respectively.

Jindal Steel and Power announced that it is all set to invest Rs 440 billion to establish two 6- million-tonnes-per-annum steel facilities in the states of Orissa and Jharkhand.

The reports said that the initial stage of the company's Rs 230 billion tonne steel facility in Angul will get accredited by 2011 end, however, it is still looking for the allocation of iron ore mines in the State.

With a yearly income of more than $2.3 billion, JSPL is a part of Jindal Group.

JSPL is a major player in steel, power, mining, oil & gas and infrastructure.

It manufactures cheap and resourceful steel and power via backward incorporation from its personal captive coal and iron-ore mines.