Technical analyst Somil Mehta of Sharkhan has maintained 'buy' rating on IFCI Limited stock with target of Rs 60.

According to analyst, the investors can buy the stock with a stop loss of Rs 53.

The stock of the company, on March 08, closed at Rs 54.40 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 9.40 and 5.84 respectively.

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

For the three month period ended December 2010, IFCI Ltd has recorded a growth of 12.45% in the net profit.

During the period under review, the company recorded a net profit of Rs 1.53 billion as against Rs 1.36 billion for the same period of last year.

In the meantime, total income grew by 63.01% to Rs 6.4 billion for Oct-Dec period ended December 2010.

IFCI Limited is involved in offering project financing, financial services plus investments.

The Company is also engaged in small business, training and skill development, and IFCI Factors Ltd (IFL).