Stock market analysts are of the view that investors can buy Mcleod Russel India Ltd stock to achieve an intraday target of Rs 245.

According to them, investors can buy the stock above Rs 241 with a strict stop loss of Rs 237.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 247.

Shares of the company, on Monday (Feb 08), closed at Rs 232.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 311.50 and a low of Rs 42.05 on BSE.

Mcleod Russel India declared that it has finished the share purchase deal entered into by Borelli Tea Holdings with James Finlay Uganda (JFUL) and James Finlay International Holdings, both of UK.

Borelli Tea Holdings, the completely owned arm of the Mcleod Russel India on Jan. 18, 2010, acquired 100 percent of the equity capital of Rwenzori Tea Investments, Uganda (Rwenzori).

With this acquirement Borelli has gained control over JFUL, a 100 percent arm of Rwenzori. Because of this acquirement, Rwenzori and JFUL have become step down divisions of Mcleod Russel.

Mcleod Russel India Ltd announced that its net profit in the quarter till Dec 2009 had arisen 184% against the corresponding period of 2008 to Rs137.94 crore.

Total revenue increased by 40% year-on-year to Rs 347.26 crore.

Sales in the third quarter of the existing financial surged by 2.5 million kgs compared with last year.