Technical analyst Ashish Chaturmotha of Anand Rathi Securities is of the view that investors can buy IFCI Ltd stock for an intraday target of Rs 55.

According to Chaturmotha, the investors can buy the stock with a stop loss of Rs 49.

Today, the shares of the company opened at Rs 51.80 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 61.15 and a low of Rs 25 on BSE.

Current EPS & P/E ratio stood at 8.80 and 5.88 respectively.

Karnataka Minister for Large and Medium Industries Murugesh R. Nirani said that Industrial Finance Corporation of India has decided to invest Rs 1,000 crore to set a base in the projected worldwide financial region near Devanahalli on city outskirts.

IFCI Ltd announced that its net profit increased by 71% to Rs 243 crore for the three month period ended March 31, 2010 as compared to the same period last year.

Total income climbed to Rs 540 crore for the three month period ended March 31 as against Rs 369 crore in the corresponding period of 2009.

The company's board has suggested a dividend of Re 1 a share for 2009-10.

For the year ended March 31, 2010, IFCI Ltd had registered a consolidated net profit of Rs 693 crore, up 4.68% over the previous year.