Sell Bhushan Steel With Stop Loss Of Rs 500

Sell Bhushan Steel With Stop Loss Of Rs 500Stock market analyst Kunal Saraogi has maintained 'sell' rating on Bhushan Steel Limited stock with a target of Rs 435.

Mr. Saraogi said that the investors can sell the stock a stop loss of Rs 500.

After selling the stock, the interested investors can buy the stock on declines with medium and long term target.

Today, the stock of the company opened at Rs 483 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 545 and a low of Rs 254 on BSE.

Current EPS & P/E ratio stood at 43.94 and 10.84 respectively.

Bhushan Steel Ltd registered a 37 per cent growth in its net profit, which stood at Rs 259 crore during the three month period ended September 30.

The company had recorded a net profit of Rs 189 crore during the dame period of last financial year.

Company's total income grew by 32% to Rs 1,730 crore during the second quarter as compared to Rs 1,304 in the same period of 2009-10.

Bhushan Steel Ltd, a top steel manufacturer, has a production capacitance of around 2 million tonnes annually.

Bhushan Steel owns three manufacturing facilities in the states of Uttar Pradesh, Maharashtra and Orissa.

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