Technical analyst Simi Bhaumik has maintained 'buy' rating on Man Industries (India) Limited stock to attain a short-term target of Rs 105-110.

According to analyst, the interested investors can buy the stock with a stop loss of Rs 86.

The stock of the company, on May 04, closed at Rs 93.30 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 18.89 and 5.10 respectively.

The share price has seen a 52-week high of Rs 109.90 and a low of Rs 55.10 on BSE.

Man industries promoted by Rameshchandra Mansukhani was incorporated on March 19, 1988 has its aluminium extrusion plant at Pithampur, MP. Man Industries (India) Limited is the flag ship company of Man Group of UK is a leading manufacturer of large diameter SAW Line Pipes and Coating Systems for high pressure applications like transportation of Oil, Gas and other Petrochemical products.

We initiate a buy call on Man Industries with a target price 80 for a period of 1 year. Short term traders can buy this stock for target of 58 in 1 month.

Valuation rational for the company is strong sales growth expectation, stable margins, very strong balance sheet with book value of Rs. 80 per share and value to be unlocked in Real Estate business.

Although results were a huge dampener for the stock, stock has already showed a correction of 12%.