Technical analyst, Mathew Easow is of the view that investors can buy Webel SL Energy Systems stock to achieve a short-term target of Rs 374.

According to him, the stock can be purchased on declines with a stop loss of Rs 310.

The investors can achieve the target within a period of 6-8 weeks. So they are advised not to sell the stock before achieving this price target.

Today, the company’s shares opened at Rs 343.80, as against its last closure at Rs 333.75 on Thursday (May 8), on the Bombay Stock Exchange (BSE). Current EPS and P/E ratio stood at 11.61 and 30.16 respectively. The share price has seen a 52-week high of Rs 846.95 and a low of Rs 230.6 on BSE.

Webel-Sl Energy Systems Ltd has informed BSE that instead of publishing the un-audited financial results for the quarter ended March 31, 2008, the Company will submit the audited financial results for the entire financial year within three months of the end of the financial year 2007-08 i.e., within June 30, 2008.   

Webel Solar is a leading producer of Solar Photovotaic Cells and Modules in India. It is one of the fastest growing companies within the solar photovoltaic industry in India with a 30 per cent annual growth rate and a 5 MW manufacturing facility for cells and modules. 

Other stocks from the same sector that looks good for short-term trading includes CRISIL, Info Edge and Jain Irrigation.