Karvy Stock Broking Limited has maintained 'Buy' rating on SAIL stock to achieve a target of Rs 195 in 1-2 trading sessions.

According to Karvy, interested traders can buy the stock between Rs 186-188 with a strict stop loss of Rs 183.50.

On Saturday (Oct 17), the shares of the company closed at Rs 202.65 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 189.25 and a low of Rs 55.25 on BSE. Current EPS and P/E of the stock stood at 13.58 & 14.34 respectively.

Steel Authority of India (SAIL) on Oct 14 stated that it was thinking of buying coking coal mines in Australia, Indonesia and Mozambique with an Indian government joint venture.

SAIL, one of five companies in the International Coal Ventures, is hiking up steel production in order to meet up domestic demand, which would be growing continuously.

Steel demand in the country may go up 8.9% in the existing year and 12.1% by the coming year.

It is discovered that venture has $750 million in capital and $1.5 billion in borrowings, and decided to invest $2.2 billion.

On Oct 10, SAIL, the major stakeholder in Chiria mines, one of the world's biggest sources of top quality iron ore, said that it has sought full control of more than 2 billion ton ore reserve estimated in the region.

The fresh move from SAIL is likely to dent plans of companies including ArcelorMittal, JSW Steel, Essar Steel and Tata Steel, which have been looking at a part of Chiria mines to serve their planned steel projects in the state.