Technical analyst Anil Singhvi maintained 'hold' rating on National Mineral Development Corporation Ltd (NMDC) stock with an intra-day target of Rs 275.

According to analyst, the investors can buy the stock with a stop loss of Rs 262.

The stock of the company, on Feb 01, closed at Rs 265 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 514 and a low of Rs 239.95 on BSE.

Current EPS & P/E ratio stood at 13.79 and 19.45 respectively.

National Mineral Development Corporation Ltd announced that its PAT during the third quarter surged 81% to Rs 1,518 crore as against Rs 837 crore registered in the corresponding period of 2009.

Likewise, the public sector company stated its PAT for the nine months of the current fiscal surged to Rs 4,401 crore as compared to Rs 2,382 crore attained in the similar period last fiscal.

"Improved physical performance coupled with higher prices, transparent pricing systems and improvement in evacuation by railways resulted in the company posting a net post tax profit of Rs 4,401 crore for the nine months of the current financial year 2010-11," the company added.

Moreover, the company has plans to establish its second steel facility in the state of Chhattisgarh and is making discussions with two firms in order to form a joint venture. One of the companies is Tata Steel.

Chairman and Managing Director Rana Som stated, "We have decided to set up a two-million-tonne steel plant in Chhattisgarh, apart from the three-million-tonne plant that we are working on."