Technical analyst Rakesh Bansal of New Age Wealth has maintained 'sell' rating on Steel Authority of India Limited stock with a target that lies between Rs 144-140.

According to analyst, the investors can sell the stock with a stop loss of Rs 178

Mr. Bansal added that it is better to sell the stock at this time as it looks weak.

He also said that the interested investors can buy the stock again on declines for medium or long term.

Today, the stock of the company opened at Rs 167.25 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 258.55 and a low of Rs 170.70 on BSE.

Current EPS & P/E ratio stood at 13.22 and 12.40 respectively.

In the third quarter of fiscal year 2011, steel maker, Steel Authority of India Limited (SAIL) has recorded a decline of 33.9% in its net profit on y-o-y basis to Rs 11.07 billion.

In the meantime, the company's total income grew by 12.62% in the said the quarter on y-o-y basis to Rs 115.84 billion.

Broking firm IIFL projected a fall of 28.4% y-o-y basis in SAIL's net profit, which stood at Rs 12 billion and an increase of 11.6% y-o-y basis in earnings, which stood at Rs 108.25 billion.

The company's directors have given nod to interim dividend of Rs 1.20 per share for the fiscal year 2010-11.