Stock market analyst E Mathew has suggested investors to buy ‘Webel Solar Energy’ stock to achieve short term target between Rs 900-950.

The stock has performed brilliantly on Friday (4 Jan), and marked its closure at Rs 705.80 after making a gain of 6.65 percent. Today, it opened at Rs 707 on BSE.

According to Mr. Mathew, interested investors can purchase the stock only on dips with a strict stop loss at Rs 668. With an EPS (TTM) of Rs 12.34, the stock is trading with a P/E of 59.15 at 10:10 am (today).

On Bombay Stock Exchange, the stock has touched 52-week high of Rs 715 and the low of Rs 266.65. The stock will surely achieve the said target within a period of 2 weeks. So, the investors are suggested not to sell this stock before achieving this mark.

An extra ordinary general meeting (EGM) of the members of Webel-Sl Energy Systems, will be held on Jan. 08, 2008, to consider increasing authorised capital of the company from present Rs 100 million to Rs 150 million.

Further the member will also consider raising up to Rs 1.5 billion by issuing and allotting any securities (ADR, GDR, FCCB etc) in India or foreign market and authorizing the board to borrow up to Rs 5 billion.

The company has also decided to expand its capacity from 12MW to 42MW by April 08 and 72MW by April 09. The stock should be 4x in the next 12 months.

If investors want some other options in the same segment, they can purchase Guj NRE Coke, Info Edge, Jain Irrigation for short or medium term. The segment has been performing well from last 3-4 weeks, and there are also great expectations in the coming days.