Stock market analysts are of the view that investors can buy Nahar Capital & Financial Services Ltd stock to achieve an intraday target between Rs 58-60.

According to them, investors can purchase the stock above Rs 57.10 with a strict stop loss of Rs 56.

Shares of the company, on Tuesday (Nov 10), closed at Rs 56.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 58.10 and a low of Rs 18.05 on BSE.

Incorporated on Mar. 31, 2006, Nahar Capital and Financial Services (NAHARCAP) specializes in investment business.

The company acquired the investment business of Nahar Spinning Mills according to the scheme of demerger and arrangement appropriately sanctioned by the Punjab and Haryana High Court, Chandigarh wef Apr. 1, 2006.

It's a division of the Nahar group of companies, an Industrial corporation with list ranging from spinning, knitwork, fabrics, hosiery garments and sugar and has endorsed companies such as Nahar Spinning Mills, Oswal Woollen Mills, Nahar Industrial Enterprises as well as Nahar Investments & Holdings.

The product range includes the finest combination of financial securities including bonds, equity shares, inter business loans, deposits and different mutual fund plans. It had applied to the central bank for listing as a NBFC in March 2007. The company has sanctioned its investment processes to be dealt by Nahar Spinning Mills until it runs as a NBFC.