Technical analyst Salil Sharma has maintained 'buy' rating on Ruchi Soya Industries Limited stock with a target of Rs 124.

According to analyst, the investors can buy the stock with a stop loss of Rs 112.

Mr. Prasad said that the stock can attain the said target within a period of 2-3 trading sessions.

The stock of the company, on January 25, closed at Rs 116.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 143.15 and a low of Rs 83 on BSE.

Current EPS & P/E ratio stood at 6.67 and 17.75 respectively.

Edible oil manufacturer Ruchi Soya Industries has recorded a 58.49% increase in its net profit for the three month period ended December 31.

The company's net profit for the said period stood at Rs 63.78 crore as compared to a net profit of Rs 40.24 crore during the same period of last year (2009).

The net sales of company increased to Rs 4,628.36 crore during October-December quarter as against Rs 3,799.45 crore during the year-ago period.

Mr. Dinesh Shahra, Managing Director, Ruchi Soya Industries stated, "The higher capacity utilisation of soya crushing and edible oil refining capacities, strong growth in branded sales of Nutrela, Ruchi Gold & Mahakosh and greater focus on value addition have contributed to the better performance. It is expected that, with the positive growth momentum, we are hoping to perform better in the coming quarters."