Stock market analyst Somil Mehta of Sharekhan has maintained 'buy' rating on IFCI Ltd stock with a target of Rs 70.

According to analyst, the interested investors can buy the stock at Rs 63 with a stop loss of Rs 61.

The stock of the company, on Sep 21, closed at Rs 63 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 145.20 and a low of Rs 180 on BSE.

Current EPS & P/E ratio stood at 15.32 and 9.39 respectively.

For providing financial assistance to the 1320 mega watt power project, IFCI, on Sep 08, inked a deal with Core Infrapower, which is headquartered in Mumbai, Maharashtra.

Financial institution stated that the projected power project would be fulfilled in two different stages.

For the said project, IFCI would offer up term loan and also provide advisory services for Core Infrapower.

During the three month period ended June 20, 2010, IFCI Ltd registered an increase of 17.09% in its net profit, which stood at Rs 118 crore as compared to Rs 100.78 crore during the corresponding period of the last year.

IFCI said that its income from operations during April-June period grew by 55.85% to Rs 496.71 crore as compared to Rs 318.72 crore during the corresponding period of the last year.