Buy SAIL With Target Of Rs 210

Buy SAIL With Target Of Rs 210Stock market analyst Somil Mehta of Sharekhan has maintained 'buy' rating on Steel Authority Of India Limited stock to achieve a target of Rs 210.

According to analyst, the interested investors can buy the stock with strict stop loss of Rs 194.

The stock of the company, on Nov 09, closed at Rs 199.65 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 14.59 and 13.64 respectively.

The share price has seen a 52-week high of Rs 258.55 and a low of Rs 168.90 on BSE.

Steel major Steel Authority of India (SAIL) is making attempts to foray into a complete new biz of track laying and renewal.

The company has started discussions with Indian Railways on this in the hope of entering into a budding biz in the coming time.

SAIL chairman CS Verma stated, "We have an ongoing partnership with the Railways since we have been supplying rails from our Bhilai Steel Plant for a number of years. The upcoming Dedicated Freight Corridor project of the Railways also offers a whole new opportunity for us. Our discussions with Railways on the tracks business is at a conceptual stage. We are exploring ways to expand our existing relationship with them in a big way."

During the last month, Union railway minister Mamta Banerjee declared that SAIL has been called up by the railways department in order to set up a novel factory.