Technical analyst Nishant Jain of Tradeswift Broking has maintained 'buy' rating on Moser Baer India Limited stock with a target of Rs 62.

According to analyst, the stock can be purchased with a stop loss of Rs 55.

The stock of the company, on December 27, closed at Rs 57.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 94.20 and a low of Rs 52.85 on BSE.

Current EPS is -8.36.

Moser Baer has decided to make an investment of $500-600 million by the next 3-4 years to swell its manufacturing capacitance of crystalline cells and crystalline silicon modules in the country.

Moser Baer India's Group CFO Yogesh Mathur stated, "Considering the huge potential in the solar power sector, both in the global as well as Indian markets, we have planned a capex of $500-600 million over the next three to four years."

Solar energy major proposed to lift up the funds via a mixture of debt, equity and internal accruals.

Presently, the company's manufacturing capacity comprises 90 MW of crystalline cells, 100 MW crystalline modules and 50 MW of thin films.

"In the initial phase, we plan to double our capacity of silicon modules. Later we plan to expand the capacity of our thin film module to around 150 MW by 2012-13," Mr. Mathur added.