Technical analyst AK Prabhakar of Anand Rathi Securities has maintained 'buy' rating on NMDC Limited stock to attain a target of Rs 291.

The stock can be purchased with a stop loss of Rs 266.

Today, the stock of the company opened at Rs 274 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 374.80 and a low of Rs 239.95 on BSE.

Current EPS & P/E ratio stood at 13.79 and 19.87 respectively.

NMDC Ltd inked the deal with the group including M/s. SVAI, Austria, SVAI India and M/s. Nagarjuna Construction Company for turnkey implementation of a 460m2 sinter plant complex.

This is the primary agreement among the nine main technical packages for the 3.0 MT Integrated steel facility at Nagarnar.

Moreover, the company said that it will establish a 300,000-tonne capacity facility to manufacture iron ore concentrate from iron ore waste with a total investment of Rs 1.5 billion in the state Karnataka.

State-run NMDC has registered an increase of 81.35% in its net profit for the three month period ended Dec 2010.

During the period under review, NMDC registered a net profit of Rs 15.18 billion as against Rs 8.37 billion for the three month period ended Dec 2009.

The company's income lifted 62.08% during the period under review to Rs 29.16 billion for the period ended Dec 2010.