Intraday Buy Call For IFCI

Intraday Buy Call For IFCITechnical analyst Ashutosh Sarna has maintained 'buy' rating on IFCI Limited stock to achieve a target of Rs 60.

The analyst said that the investors can buy the stock with a stop loss of Rs 55.50.

The shares of the company, on April 07, closed at Rs 56.95 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 80.55 and a low of Rs 46.90 on BSE.

Current EPS & P/E ratio stood at 9.40 and 6.11 respectively.

Debt-laden clothing retailer Koutons Retail India Ltd announced that IFCI Ltd has lifted up its equity holding in the company by invoking the shares pledged by originators of the company.

IFCI's equity holding in Koutons Retail has increased to 10.24% as against 5.89% previously.

IFCI has registered an increase of 12.45% in the net profit for the three month period ended December 2010.

During the period under review, IFCI registered a profit of Rs 1.53 billion as against Rs 1.36 billion for the same period of 2009.

In the meantime, total income of the company grew by 63.01% to Rs 6.4 billion for the three month period ended December 2010.