Technical analyst Shrikant Chouhan of Kotak Securities has maintained ‘buy’ rating Alstom Projects Limited stock with short-term targets of Rs 600 and 610.
The analyst added that the interested investors can sell the stock with a stop loss of Rs 560.
Today, the stock of the company opened at Rs 581.70 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 874.85 and a low of Rs 510 on BSE.
Current EPS & P/E ratio stood at 25.19 and 22.98 respectively.
Alstom Projects India Ltd has pocketed three major deals valued at more than Rs 270 crore to set up hydroelectric projects in India.
The primary agreement has been inked with Shiga Energy Pvt Ltd for the 97 MW Tashiding hydroelectric project in West Sikkim region on the Rathang Chu river.
The second agreement has been inked with NSL Tidong Power Generation Pvt Ltd.
The third order has been inked with Haridwar Infrastructure Pvt Ltd.
All instruments will be fabricated at Alstom’s Vadodara plant in the state of Gujarat, one of the company’s biggest hydro equipment manufacturing centers internationally.
Alstom projects that the country has an economically exploitable and viable hydro prospective of around 84,000 MW.