Stock market analyst Nikita Surekha has maintained 'buy' rating on Sesa Goa Limited stock to achieve a target of Rs 346.

According to analyst, the stock can be bought with stop loss of Rs 331.

The stock of the company, on November 15, closed at Rs 338.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 494.30 and a low of Rs 314.65 on BSE.

Current EPS & P/E ratio stood at 34.96 and 9.68 respectively.

Vedanta Group company Sesa Goa is making plans to make an investment of more than Rs 30,000 crore in the steel segment in the states of Orissa and Jharkhand and may appoint an international firm to mutually run the business enterprises.

Sesa Goa Managing Director P K Mukherjee stated, "We have written to the Orissa government for transferring an MoU signed with Vedanta group firm Sterlite Industries to our name as anything in iron ore and steel space in the group will have to be undertaken by Sesa Goa. The MoU is for a five million-tonne plant in Orissa. Similarly, we are looking to complete land acquisition for a 1-1.5 million tonnes steel plant in Jharkhand by the end of this fiscal. For steel plants, we will enter into technical collaboration."

But, he did not provide a time limit within which Sesa Goa projected to begin the venture.

Moreover, Sesa Goa is eyeing to lift up around $1 billion by issuing short-term Commercial Paper (CP) to support the open offer for Cairn India scrips.