In its latest research report, Nirmal Bang, an equity research firm said that Areva T&D, which has been consolidating between Rs 295-320 level, can give good returns in the short term.

The report further stated that, if the counter is successful to breach Rs 310 levels, then it will hit a target of Rs 375.

Nirmal Bang has advised investors to hold the stock of the company as it is showing signs of revival, which gives an evidence of a strong breakout.

The stock has strong support at Rs 298.

Today (Sep 16), the shares of the company opened at Rs 319.90 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 8.74 & 36.29 respectively. The share price has seen a 52-week high of Rs 386 and a low of Rs 130 on BSE.

The leading global specialist in Transmission & Distribution, Areva T&D on Sep 14 has bagged a prestigious deal worth Rs 760 million from Haryana Vidyut Prasaran Nigam (HVPNL).

The scope of newly received order consists of turnkey design and building of a 400 kV air insulated substation at Nawada (Faridabad).

Besides, the deal also comprises supply of instrument transformers, 2*315 MVA power transformers, high-energy breakers and other products of the company.

As per reports, the company is already involved in production of HVPNL's 400 kV substation situated in Kirorl (Hissar).

Areva T&D supplies a range of solutions for transmission and distribution of energy. The company provides products and systems like energy automation and information, electrical distribution systems, high voltage switchgear, medium voltage switchgear, and transformers.

On Sep 04, Japan's Toshiba Corp said that it has decided to make bid for Areva T&D's power distribution and transmission equipment division.

According to the sources, the company is projecting to take part in the initial bidding round on 18 September. French companies including Alstom and Schneider Electric have also decided to make a combined bid for the unit, whereas Axa Private Equity is deciding whether to make an offer.

A source also stated that the contract could be valued at over $5.4 billion whilst another told that the division could fetch as much as Y700 billion.