Stock market analyst VK Sharma maintained 'Buy' rating on Gujarat State Petro to achieve an intraday target of Rs 64.

According to Mr. Sharma, interested traders can buy the stock with a strict stop loss of Rs 60.

The shares of the company, on Wednesday (July 22), closed at Rs 61.20 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 2.20 & 28.95 respectively. The share price has seen a 52-week high of Rs 67.30 and a low of Rs 25.25 on BSE.

Gujarat State Petronet Ltd (GSPL) declared that a meeting of the company's directors will be held on July 23, 2009, inter alia, to consider the unaudited financial results of the Company for the three month period ended June 30, 2009 (Q1).

GSPC, together with Swan Energy, is ready to raise the capacity of its Pipavav power project to 2100 Mw from 1600 Mw. The project is in the process of going on stream with about 700 Mw.

The project growth stands at around Rs 2,500 crore.

GSPC has transferred its 49% equity stake to Mumbai-based Swan Energy for around Rs 400 crore.

The sources said that the total project cost for establishing the 2,100-Mw power facility now pegged at about Rs 10,000 crore. GSPC is presently in the process of offloading
49% stake to Swan Energy.

GSPL, a GSPC division, has taken a lead in setting up energy transportation Infrastructure in Gujarat and linking main natural gas supply sources and demand markets.