Stock market analyst Nitin Murarka of SMC Global has maintained 'hold' rating on Assam Company India Ltd stock with target of Rs 22.

According to Mr. Murarka, the investors can purchase the stock with stop loss of Rs 18.

The stock of the company, on May 31, closed at Rs 19.90 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 28 and a low of Rs 12.70on BSE.

Assam Company India announced that the loss for the three month period ended March 2010 has narrowed.

During the period, the company's loss declined to Rs 188.33 million as against a loss of Rs 193.31 million in March 2009.

It recorded loss of Rs 1 per share during the period under review.

Set up in the year 1977, Assam Company (ACL) operates 16 factories and has 19 tea estates and gardens covering more than 12000 hectares.

In addition to tea plantation, ACL is also involved in the business of infrastructure and oil and gas exploration.

The company's total manufacturing capacity is 15 million kg of tea.