Technical house Bonanza is bullish on Supreme Industries and has maintained 'buy' rating on the Supreme Industries (SIL) stock with a target of Rs 165.

Today, the stock of the Supreme Industries opened at Rs 146.55 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 169.90 and a low of Rs 90.81 on BSE.

Current EPS & P/E ratio stood at 13.42 and 10.64 respectively.

However, the Supreme Industries is one of the major manufacturers of processed plastics in the country, processing around 2 lakh MTs of polymers every year.

The firm provides a huge range of plastic products, categorized into four broad heads, called as plastic piping system, consumer products, industrial products and protective packaging products.

The company has reported good earnings in Q2FY2011, a 15 percent year on year growth in net earning to reach Rs 41.2 crore due to the high volume growth which is increased by 21 percent year on year. The hike was largely experienced by more demand from growing infrastructure as well as construction activities.

Meanwhile, the company has finished a construction project of a 10-storey commercial complex placed in the business district of Andheri (West), Mumbai.

Bonanza research report states, "Going by the good growth potential in all the product segments, where the Company operates, and due to the increased demand coming from automotive, agriculture, industrial and consumer sectors, the Company offers good value to long term investors."