Stock market analysts are of the view that investors can buy Steel Authority of India Limited (SAIL) stock to achieve an intraday target between Rs 199-202.

According to them, investors can buy the stock above Rs 197 with a strict stop loss of Rs 194.

Shares of the company, on Tuesday (Nov 24), closed at Rs 194.05 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 195 and a low of Rs 58.80 on BSE.

Current EPS & P/E ratio of the stock stood at 12.84 & 15.40.

The worldwide meltdown and the significant demand reduction has postponed SAIL's Rs 700 billion growth plan twice, as it would now be finished by 2012-13 only.

SAIL has now place an objective of carrying out the mega project, aimed at increasing its yearly production capability to 23.46 million tons (MT) from the current 14.6 MT by 2012-13 from the previous time limit of 2011-12.

Because of the lasting recession, SAIL was in July pressured to revise downward its planned production capability from 26.18 MT to the existing goal of 23.46 MT.