Technical analyst Ashutosh Sarna has maintained 'buy' rating on Industrial Finance Corporation of India Limited stock with a target of Rs 55.80.

According to analyst, the investors can purchase the stock with a stop loss of Rs 51.50.

The stock of the bank, on February 03, closed at Rs 52.80 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 80.55 and a low of Rs 47.55 on BSE.

Current EPS & P/E ratio stood at 9.40 and 5.71 respectively.

Industrial Finance Corporation of India (IFCI) has registered a jump of 12% in its profit, which stood at Rs 153 crore for the three month period ended December 30, 2010.

The company recorded a PAT of Rs 136 crore during the same period last fiscal.

IFCI's total income surged 65.4% to Rs 637 crore during the third quarter of FY2010-11 as against Rs 385 crore during the corresponding period of 2009.

According to the statement, the company recorded a 11% increase in net profit to Rs 473 crore during Jan-Sep period of the ongoing fiscal as against Rs 427.6 crore in the corresponding period of 2009.

Approvals during Jan-Sep period increased 145% to Rs 10,920 crore as compared to Rs 4,455 crore during the same period a year ago.

In addition, loan disbursements increased 80% to Rs 6,038 crore as against Rs 3,346 crore in the corresponding period of 2009.