Intraday Buy Call For Bajaj Hindustan

Intraday Buy Call For Bajaj HindustanStock market analyst Ramesh Arora has maintained 'buy' rating on Bajaj Hindustan Limited stock to achieve an intraday target of Rs 138.

According to analyst, the investors can purchase the stock with stop loss of Rs 130.

Today, the stock of the company opened at Rs 132.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 242.90 and a low of Rs 101.05 on BSE.

Current EPS & P/E ratio stood at 8.96 and 14.94 respectively.

Bajaj Hindusthan has decided to make an investment of Rs 10,000 crore in order to establish 1,980-Mw thermal power capacity in the state of Uttar Pradesh.

India's largest sugar producer said that it has already inked an MoU with the UP administration for establishing a thermal power capacity of 2,430 mega watt.

According to source, "The company is betting big on power, given the huge demand. It has applied to the state government for another 1,980 Mw power capacity. It has plans to get into power generation in a big way."

Kushagra Bajaj-promoted company has a subsisting captive power capacity of 430 megawatt that is based on bagasse, a byproduct of sugar.

The company owns 16 sugar mills in the state.

In the recent past, the company has tried out to expand into sections such as bagasse-based particle board and medium-density fibre (MDF).

Moreover, it has established 3 facilities to make 160,000 cubic metres of MDF and 50,000 cubic metres of particle board.