Stock market analyst Gaurang Shah of Geojit BNP Paribas has maintained 'buy' rating on Prakash Industries Ltd stock in staggered way for gains of 30-40% in 18-24 months.

Today, the stock of the company opened at Rs 178.30 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 243.95 and a low of Rs 101.10 on BSE.

The company has once again done a very smart move during 1-2 years in which they are turning wholly integrated steel maker.

Moreover, the company has also finished backward integration.

Prakash Industries declared a substantial growth in standalone net profit for the three month period ended March 2010.

During the quarter, the company's profit grew by 42.19% to Rs 737.40 million as compared to Rs 518.60 million during the corresponding period of 2009.

Net sales during the said period surged 44.55% to Rs 4,643.40 million, whereas total income during the period rose 44.51% to Rs 4,658.80 million.

The company recorded EPS of Rs 6.31 per share in the Jan-Mar quarter, recording 40.53% growth over previous year period.