Technical analyst Rakesh Bansal of New Age Wealth is bullish on Stee Authority of India Limited (SAIL) and has maintained 'buy' rating on the stock.

According to the analyst, the interested investors can buy the stock with a target of Rs 168 till expiry.

Mr. Bansal said that the stock can be purchased with a stop loss of Rs 154.

The stock of the company, on March 21, closed at Rs 159.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 258.55 and a low of Rs 152.50 on BSE.

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

The administration stated that SAIL has begun the process of developing Chiria reserves in Jharkhand and also nominated a global consultant to set up thorough project implementation report.

Steel Minister Beni Prasad Verma satted, "Steel Authority of India (SAIL) has already initiated the process for development of seven million tonnes per annum capacity mechanised mine with state-of-art technology."

Moreover, the company is now giving special stress on strengthening its biz scope in rustic India.

Towards that objective, the company has decided to appoint around two dealers in each district of the country.

To augment effectiveness of its retail activity, they are focusing on accessibility of materials in small customized lots and bundles.