Stock market analyst Hitendra Vasudeo of stockmechanics.com has maintained ‘Sell’ rating on Aditya Birla Nuvo stock to achieve a target between Rs 734 - Rs 646 today.

The investors are advised to sell the stock in order to avoid loss, as there are full chances of a downward trend in this stock.

If the stock fell below Rs 640, it may see more weakness.

According to Mr. Vasudeo, investors can sell the stock around Rs 789-Rs 822 with a strict stop loss of Rs 844.

After selling the stock in today’s session, the interested investors can enter the stock again, but only on declines.

The shares of the company, on Tuesday (July 07) closed at Rs 766.50 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 10.77 & 72.42 respectively. The share price has seen a 52-week high of Rs 1422 and a low of Rs 330.25 on BSE.

Aditya Birla Nuvo Ltd has announced that a meeting of the company’s directors will be held on July 29, 2009, inter alia, to consider Unaudited Financial Results for the quarter ended June 30, 2009 (Q1).

In June 2009, credit rating agency, ICRA reaffirmed the A1+ rating for the Rs 10 billion short-term debt programme of Aditya Birla Nuvo (ABNL).

The rating points out highest credit quality rating allotted by ICRA to short term debt instruments. Instruments ranked in this group carry the lowest credit risk in the short term.

Aditya Birla Nuvo Ltd, on June 22, declared that the Investor Relations and Finance Committee of the company’s directors, at its meeting, has allotted 1,85,00,000 Warrants to the Promoter Group Companies.