Karvy Stock Broking Limited has maintained 'Buy' rating on Triveni Engineering Ltd stock to achieve a target of Rs 115 in 1-2 trading sessions.

According to Karvy, interested traders can buy the stock between Rs 108-109 with a strict stop loss of Rs 104.

The shares of the company on Monday, (Dec 14), closed at Rs 109.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 125.30 and a low of Rs 32.10 on BSE.

Current EPS and P/E of the stock stood at 7.06 & 15.61 respectively.

Sugar futures are likely to show a fresh breakout. They were solidifying for the past three months and on Dec 11, they made a 3 percent odd move on the upper side, so Triveni Engg looks beneficial.

Triveni Engineering and Industries was established in 1932 under the name of Ganga Sugar Corporation Ltd. In 1973, it changed its name to Gangeshwar Ltd and eventually on March 31, 2000 it was renamed as Triveni Engineering and Industries Ltd (TEIL).

Triveni Engg deals in sugar, turbines, gears, and water treatment. The company has 3 sugar mills in Uttar Pradesh with a daily installation capability of 25,250 tons.

Triveni Engineering and Industries Ltd is the country's biggest manufacturer of steam turbines with a production capacity of 15.0 MV. TEIL is also into the trade of generating power.