Stock market analysts have maintained 'buy' rating on VIP Industries Ltd with an intraday target of Rs 284.

According to them, interested traders can purchase the stock above Rs 280 with a strict stop loss of Rs 276.

If the stock market remains positive, the stock will hit above Rs 288.

Shares of the company, on Wednesday (Feb 17), closed at Rs 280.60 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 293.70 and a low of Rs 32.25 on BSE.

Current EPS & P/E ratio of the stock stood at 17.94 & 15.31 respectively.

VIP Industries Ltd has recorded net sales of Rs 166.6 crores for the quarter ended on 31-December-2009.

The company's net profit during the quarter stood at Rs 14.5 crores as compared to Rs 0.9 crores in the same period of last year.

The company's EPS stood at Rs 5.7 for the quarter as against Rs 0.3 earlier.

For the nine month period ended on 31-December-2009, the company's net sales stood at Rs 496 crores as against Rs 398 crores during the 9 months ended on Dec 2008.

The company's net profit for the nine month period was Rs 40.2 crores as compared to Rs 7.9 crores in 2008.

Moreover, the company's directors announced an interim dividend of Rs 2/- per equity share of Rs 10/- each for the financial year 2009-2010.