Technical analyst Somil Mehta of Sharekhan has maintained 'sell' rating on Steel Authority of India Limited stock with stop loss of Rs 202.

According to analyst, the investors can sell the stock with a target of Rs 185.

Mr. Mehta said that it is fruitful to sell the stock in today's session as there are full chances of decline.

After selling the stock today, the interested investors can purchase the stock again for medium or long term target.

Today, the stock of the company opened at Rs 195 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 258.55 and a low of Rs 178 on BSE.

Current EPS & P/E ratio stood at 14.59 and 13.35 respectively.

State-owned SAIL inked a deal with Switzerland-based CBMM Technology Suisse for research and growth of high-end steel items utilized in the shipping of oil and natural gas, a major constituent in the company's continuing Rs 70,000 crore upgradation plan.

As part of SAIL's plan to swell its foothold in the specialized steel products field, the r&d division of the steel-manufacturer will work with the foreign agency for the next two years to build up novel items.

In a declaration, the company said, "Steel Authority of India Limited (SAIL) today sign(ed) a collaborative agreement with CBMM (Companhia Brasileira de Metalurgia e Mineracao of Brazil) Technology Suisse SA, based in Geneva, Switzerland."

Countrey's ministry of environment and forests has forwarded environment authorization to a greenfield iron ore mine plus the growth of two others belonging to SAIL.