Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on Ispat Industries to achieve an intraday target of Rs 28.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 19.

The shares of the company on Tuesday (July 21) closed at Rs 21.60 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 30.25 and a low of Rs 9 on BSE.

Ispat Industries Ltd has declared that a meeting of the company’s directors will take place on July 25, 2009, inter alia, to consider, the unaudited financial results of the Company for the three month period ended June 30, 2009.

Ispat Industries Limited (IIL) is one of the major integrated steel manufacturers and the biggest private sector manufacturer of hot rolled coils in the Indian market.

Established as Nippon Denro Ispat Limited during May 1984 by founding chairman Mr. M L Mittal, IIL has progressively developed into a Rs 9,400-crore company, accepting its status as flagship of the esteemed Ispat Group.

Ispat Industries Limited, which is headquartered at Mumbai, hires a total of 3000 people and is the leader in the national specialty steel market.

IIL’s core competency is the creation of high-class steel, for which it hires progressive technologies and rigorous quality standards. It makes first-rate sponge iron, galvanized sheets and cold rolled coils, as well as hot rolled coils, via its two high-tech integrated steel facilities, situated at Dolvi and Kalmeshwar in Maharashtra.