Technical analyst Parsh Zaveri of Zaveri Investments has maintained 'buy' rating on Neyveli Lignite Limited stock with a target of Rs 140.

According to analyst, the stock can be purchased with a stop loss of Rs 128.

The said target can be attained in 1-2 trading sessions, Mr. Zaveri added.

The stock of the company, on December 22, closed at Rs 1334.20 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1349 and a low of Rs 786.85 on BSE.

Current EPS & P/E ratio stood 81.76 and 16.18 respectively.

Neyveli Lignite Corporation (NLC) is in search of a JV associate to get hold of coal blocks out of the country.

The company said, "NLC.... plans to acquire and develop new coal blocks jointly."

Moreover, it has invited Expression of Interest (EoI) from top firms via international biddings.

The company also said that it plans either acquirement or involution in growth of coal blocks overseas.

The expression of interest ends on February 2, 2011.

Moreover, Neyveli Lignite inked a MOU with Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd for the establishment of a 2000 MW coal based thermal power facility.

In the new thermal power facility, NLC will hold the majority stake of 51% and UPRVUNL will hold the remaining 49%.