Nirmal Bang, one of the leading equity research-cum-broking house, has recommended a buy on Sunil Hitech Engineers Ltd with a target of Rs 201 in the short term.

The report further stated that, if the counter is successful to breach Rs 175, then it will create a huge breakout.

In addition, the firm has suggested a support level for the scrip at Rs 160.

Today (Sep 24), the shares of the company opened at Rs 172.80 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 9.73 & 17.57 respectively. The share price has seen a 52-week high of Rs 196.40 and a low of Rs 49.25 on BSE.

Sunil Hitech, which hit a turnover of Rs 5982.10 millions at the end of FY 08-09, provides a diversified collection of products and services, catering to the Power segment comprising LSTK agreements of transmission & distribution schemes, Steel firms, Sugar Industries, Process & Piping businesses, irrigation plans and many more.

Such a diverse collection has permitted SHEL to extend its wings over different regions across India and make a name for itself as a accountable and esteemed organization.

SHEL has come a long way from being a simple labor dealer and contractor to a accountable group in order to fulfill the ever demanding needs of customers such as NTPC, Bharat Heavy Electricals Ltd, main utility customers including MPPGCL, RRVUNL, TNEB and MSPGCL, and other state boards as well as private participants such as Rel Energy, Jindal Power, Jindal Steels, RINL, and HSCL.