Stock market analyst E Mathew has suggested investors to purchase ‘CMC’ stock to achieve short term target of Rs 1680.

CMC stock has performed brilliantly on Thursday (27 Dec), and marked its closure at Rs 1378.90 after making a gain of Rs 85.05. The total volume of the shares traded was 61,669. It is looking very strong, and grasp it as much as you can.

On Bombay Stock Exchange, the stock has touched 52-week high of Rs 1550 and the low of Rs 488. The investors can purchase the stock around Rs 1,345 with a stop loss of Rs 1320. With an EPS of Rs 54.63, the stock traded with a P/E of 25.24 on yesterday.

The stock will surely achieve the said target within a period of 4-5 weeks. So, the investors are suggested not to sell this stock before achieving this target.

CMC has been performing well based on better results in previous quarter. The fundamentals are too strong and it has robust plans for the future growth in profits.

If investors want some other options in the same segment, they can purchase Moser Baer, HCL Info and Redington.for short or medium term. The computer & hardware segment has been performing well from last 3-4 weeks, and there are also great expectations in the coming days.