Stock market analyst Ashwani Gujral maintained ‘Buy’ rating on DLF to achieve a target above Rs 425 in the coming days.

According to Mr. Gujral, investors can buy the stock above Rs 365 with a stop loss of Rs 345.

Shares of the company, on Monday (June 08), closed at Rs 365.85 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 9.12 & 40.12 respectively. The share price has seen a 52-week high of Rs 576 and a low of Rs 124.15 on BSE.

Mr. Gujral also advised that the interested investors can buy the stock around yesterday’s closing level (Rs 365.85), and hold it to achieve the said target.

The government has given in-principle approval to the country’s biggest real estate company DLF to withdraw four of its IT, ITES, SEZ that the company did not want to construct despite slump in the realty business.

But, the board of approval (BoA) in the Commerce Ministry directed DLF to give back all the tax sops it had taken from the Centre before its special economic zones in Gujarat, West Bengal, Orissa and Haryana to be de-notified.

The sources said that BoA, led by commerce secretary G K Pillai, also permitted additional time to the K Raheja group to set up its tax-free zones in Goa, Hyderabad and Navi Mumbai.

On May 13, DLF promoters sold around 10% equity stake in the company to lift up Rs 38.60 billion for clearing arrears.

On May 15, the realty giant plans to lift around Rs 100 billion ($2 billion) by 2012 from asset sales as it aims to lessen its arrears.

In an analyst presentation earlier this month, the company stated that its net debt stood at Rs 139.58 billion at the end of March.

It has decided to pay back Rs 75 billion by selling non-core assets including its wind power unit and from part collection of the money owed to it by a property trust, DLF Assets.