Gujarat NRE Coke has completed the attainment of the Australia-based Elouera mine from BHP Billiton, a part of the Australia-based Illawarra coal business for an undisclosed sum.

The Australian flagship firm of the Gujarat NRE Coke group, Gujarat NRE Resources NL (Gujarat), carried out the process of acquisition. The coal lease and associated licenses, including the mine, would be transferred along with associated land holdings and the responsibility for rehabilitation and closure of the mine once operations are complete. Gujarat NRE Resources is expected to start the mining activity from February 2008, with development work on the first of the three longwall blocks commencing with immediate effect.

There are full chances of an upside potential in company’s stock value in today’s trading session.

The stock is likely to generate handsome gains today. It has also performed well on Friday (28 Dec). Today, it opened at Rs 131.90 as against its previous close at Rs 129.60 on BSE.    

Interested investors can purchase the stock with a stop loss of Rs 126 to attain an intraday target that lies between Rs 134-138. On Bombay Stock Exchange (BSE), the stock has touched 52-week high of Rs 136.90 and a low of Rs 26.25. The stock is trading at a P/E of 31.16. If the stock markets remain firm, it will achieve its new 52-week high today.

So the investors should hold the stock and make decent gains from it.

Those who have already purchased this stock can buy other brilliant stocks from the same sector. Some of the stock best for intraday trading include CRISIL, Info Edge and Tital Ind.