Stock market analysts have maintained 'buy' rating on Max India Ltd with an intraday target of Rs 231.

According to them, interested traders can purchase the stock around RS 229 with a strict stop loss of Rs 225.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 235.

Shares of the company, on Tuesday (Nov 24), closed at Rs 227.75 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 246 and a low of Rs 90.10 on BSE.

Current EPS & P/E ratio of the stock stood at 0.92 & 251.12 respectively.

Max India posted a decline of 83.21% in its net profit for the three month period ended September 2009.

During the period, Max India posted a profit of Rs 19.70 million as compared to Rs 117.30 million for the three month period ended September 2009.

In the same period, the company's total income stood at Rs 905.70 million, a fall of 25.74% over the prior year period.

Set up in 1982, Max India is a multi-business company centered on seven segments including specialty plastic products, healthcare business, business investment, life insurance, healthcare staffing services, clinical research services and others.

Its divisions comprise Max Bupa Health Insurance, a joint venture between Max India and Bupa Finance; Max New York Life, a firm between Max India and New York Life; Max Healthcare, a division of Max India Limited; and Max Neeman, a wholly owned arm of Max India.