Stock market analysts have maintained 'buy' rating on Sintex India with an intraday target of Rs 228.

According to them, interested traders can purchase the stock above Rs 226 with a strict stop loss of Rs 223. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 230.

Shares of the company, on Wednesday (Oct 28), closed at Rs 222.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 270.90 and a low of Rs 70.30 on BSE. Current EPS & P/E ratio stood at 18.31 and 12.01 respectively.

Sintex Industries, the biggest integrated plastic processing capacities in the country, posted a sharp decline in standalone net profit for the three month period ended Sept 30, 2009.

During the period, the company's profit fell 31.13% to Rs 469.95 million as against Rs 682.41 million during the same quarter last year.

The company's net sales dropped 5.43% to Rs 4,151 million, whereas total income descended 8.83% to Rs 4,209.36 million.

Sintex recorded EPS of Rs 3.47 during the quarter, recording 31.15% declension over prior year period.

SIL makes over 50 types of plastic and related products of different shapes and sizes that come under six broad categories such as building and construction, prefabs, interiors, industrial, electrical sector and consumer.