Stock market analyst Hitendra Vasudeo of stockmechanics.com maintained ‘Buy’ rating on Tulip Telecom to achieve a short term target between Rs 897-Rs 982.

According to Mr. Vasudeo, interested investors can buy the stock around Rs 845-Rs 813 with a strict stop loss of Rs 792.

Today (July 14), the shares of the company opened at Rs 872.50 as against it last closure of Rs 865.90 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 86.06 & 10.40 respectively. The share price has seen a 52-week high of Rs 1089.95 and a low of Rs 258.05 on BSE.

For the three month period ended March 31, 2009, Tulip Telecom has recorded a growth of 60.94% in its consolidated net profit.

The company’s consolidated profit stood at Rs 1,066.87 million as compared to Rs 662.90 million for the said period.

During the quarter under review, the company’s consolidated total income stood at Rs 5,256.479 million, an increase of 24.33% over prior year period.

On a standalone basis, Tulip Telecom has registered a net profit of Rs 1,057.33 million, a growth of 59.55% as against the same period of the last year. The company’s standalone total income was at Rs 5,195.28 million, a rise of 23.62% over the prior year period.

Moreover, the company’s directors at its meeting held on June 27, 2009, inter alia, has declared a final dividend of 40% i.e. Rs 4/- a share, for the final year 2008-2009, on the company’s total paid-up capital.