Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on Lanco Infratech to achieve a target between Rs 430-480 in the coming days.

According to Mr. Gujral, interested traders can buy the stock on dips with a strict stop loss of Rs 393.

Shares of the company, on Thursday (June 11), closed at Rs 417.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 449.40 and a low of Rs 83.10 on BSE. The total volume of shares traded was 887,361 at the BSE. Current EPS and P/E of the stock stood at 11.91 & 35.05 respectively.

Apart from Ashwani Gujral, technical Analyst Deepak Mohoni is of the view that Lanco Infratech will provide good returns in short-term.

Mr. Mohoni said that the good time to get in for long-term is only when there has been a significant correction.

Lanco Infratech on consolidated basis registered a fall of 46.75% in its net profit to Rs 898.624 million for the three month period ended March 31, 2009.

Bot, the company’s total income surged up to Rs 20,712.511 million for the quarter ended March 31, 2009 from Rs 13,401.94 million.

On standalone basis, the company recorded a small growth during the same period. During the quarter, the company’s profit increased 8.54% to Rs 1,193.85 million.

Net sales during the period grew 2.81 times to Rs 18,600.87 million, whereas total income saw an increase of 2.79 times to Rs 18,658.62 million.

The company has posted earnings of Rs 5.65 per share during the quarter.

The directors have approved raising of Rs 25 billion through American depository receipts (ADRs), global depository receipts (GDR) and foreign currency convertible bonds (FCCB).

In April 2009, the flagship company of Hyderabad-based Lanco Group, transferred the possession, management and power of its arm Rithwik Energy Systems Limited, to Vijayawada-based Agri Gold Projects Limited.

Lanco’s Rithwik Energy Systems holds a 6 Mw biomass-based power project in Andhra Pradesh’s Chittoor region.