Stock market analyst Rajesh Gupta of Fairwealth Securities has maintained 'buy' rating on Orient Ceramics & Industries Ltd stock to achieve a target that lies between Rs 94.8-96.7.

According to analyst, the interested investors can buy the stock around Rs 92 with strict stop loss of Rs 90.25.

The stock of the company, on August 27, closed at Rs 92.45 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 98.50 and a low of Rs 42.10 on BSE.

The country's biggest maker of Non-Vitrified, Vitrified, Ultra Vitrified and 3rd Fired Decorative Tiles for walls, floors & facades registered an increase of 14% in its gross sales, which stood at Rs 6465 lacs for the three month period ended June 30.

The company posted a growth of 249% in its net profit for the period under review.

OCIL's net profit for the quarter stood at Rs 531 lacs as compared to Rs 152 lacs during the dame period of last year (2009).

The company's quarterly gross sales increased by 14% to Rs 646.5 million during the quarter.

Moreover, the company has decided to invest around Rs 1 billion in order to strengthen its total production capacity, which will be done not only for green-field project but also for some type of JV deals.