Stock market analyst Hitendra Vasudeo of stockmechanics.com has maintained 'Sell' rating on CESC stock to achieve a target that lies between Rs 283.80-Rs 253.30

According to Mr. Vasudeo, investors can sell the stock around Rs 301.70-Rs 314.30 with a stop loss of Rs 320.

Today (June 22), the stock opened at Rs 305 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 423 and a low of Rs 165 on BSE. Current EPS and P/E of the stock stood at 30.82 & 9.57 respectively.

Mr. Vasudeo is of the view that investors should sell the stock today to avoid loss.

After selling the stock, the interested investors can enter the stock again at a low price, for medium or long term prospective.

CESC posted a decline of 71.16% in the consolidated net profit for the twelve month period ended March 31, 2009.

During the period, the company reported consolidated net profit of Rs 770 million from ordinary activities after tax & minority interest as compared to Rs 2,670 million for the twelve month period ended March 31, 2008.

During the same period, the company’s total income surged 14.97% to Rs 42,690 million.

CESC, the flagship company of the diversified and integrated RPG group, is a private power utility company engaged in the generation and distribution of electricity in the city of Kolkata and its adjoining areas.

It was incorporated on March 28, 1978.