Technical analyst Anil Singhvi is bullish on Hindustan Motors Ltd and has recommended 'buy' rating on the stock with an intraday target of Rs 30.

According to analyst, the interested investors can buy the stock with a stop loss of Rs 25.25.

The stock of the company, on Nov 23, closed at Rs 26.15 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 30.30 and a low of Rs 18.25 on BSE.

Current EPS is -5.96.

Hindustan Motors is all set to roll out a novel version of Ambassador in the market.

As per reports, the new Ambassador edition will hit the market by early 2011.

Hindustan Motors will introduce 4 new editions of the Ambassador to perk up the ageing model and make it contend with the trendy novel vehicles in the market.

The company already has its plans in progress to lift up sales also by beefing up its dealership arrangement.

In 2010, the company is eyeing to sell around 12,000 units comprising sales of its partner brand Mitsubishi, which sells Pajero, Cedia, Lancer and Outlander in the Indian market.

Hindustan Motors registered a net loss during the last financial year and amassed losses over the earlier four fiscals, canceling out over half its net worth.