Stock market analysts have maintained 'buy' rating on Welspun Gujarat Stahl Rohren Ltd with an intraday target of Rs 283.

According to them, interested traders can purchase the stock above Rs 280 with a strict stop loss of Rs 277. If the stock markets remain on the positive path then the stock price will hit a target above Rs 285.

Shares of the company, on Monday (Nov 09), closed at Rs 277.25 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 20.11 and 13.85 respectively. The share price has seen a 52-week high of Rs 285.55 and a low of Rs 48.50 on BSE.

Welspun-Gujarat Stahl Rohren Ltd on Nov 02 stated that it has raised the size of its FCCBs to $150 million from $20 million.

The response of capitalists to the overall offering was really strong and it consists of a blend of European plus Asian capitalists.

Welspun Gujrat Stahl Rohren declared that the company's order book has reached Rs 100 billion as worldwide market strengthens the company's premium position as long term associates in development with the majority of the oil and gas majors.

Welspun recorded an extraordinary growth in its standalone net profit for the three month period ended Sept 30, 2009.

During the period, the company's profit increased 2.15 times to Rs 1,402.20 million as against Rs 653.10 million during the corresponding quarter of 2008.

Net sales during the said period surged 21.46% to Rs 18,131.70 million, whereas total income of the company zoomed 21.36% to Rs 18,163.40 million.

The company registered an EPS of Rs 7.51 during the period.