Nirmal Bang has maintained 'Buy' rating on Rolta India to achieve an intraday target that lies between Rs 150-160.

According to Nirmal Bang, huge buying interest witnessed in this counter and the stock has been consolidating around 110-122, and it has broken the range with huge volumes in today's session.

The stock can be purchased on dip with a stop loss of Rs 120.

Shares of the company, on Monday (June 01), marked its closure at Rs 130.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 360 and a low of Rs 40.70 on BSE. Current EPS and P/E of the stock stood at 19.85 & 6.85 respectively.

For the three month period ended March 31, 2009, Rolta India posted a phenomenal increase of up to 2.03 times in its consolidated net profit.

During the quarter, Rolta posted a consolidated net profit after tax, minority interest and exceptional item of Rs 1,331.40 million.

The company's consolidated total income stood at Rs 3,401.40 million, which saw a rise of 13.80% from its prior year period.

The company's standalone net profit was Rs 1,600.70 million as compared to Rs 787.50 million in the same quarter previous year.

Net sales during the quarter increased 8.35% to Rs 2,446.80 million, whereas total income for the quarter rose 7.45% to Rs 2,536.10 million.

The company reported earnings of Rs 9.90 per share during the quarter.

In April 2009, Rolta India declared the restitution of its relationship with Intergraph Corp, a top global provider of engineering and geospatial software.

Rolta, on April 06, inaugurates its new state-of-the-art development and delivery centre in the newly constructed multistoried building at SEEPZ-SEZ, Andheri East, Mumbai.

The company's new facility has the total capacity to seat 1,500 persons during a single shift, and is fully equipped with advanced computing systems and software platforms, dedicated speedy data communications network, and backup power sources to provide trustworthy and productive offshore services to the company's worldwide clients.