Intraday Buy Call For IFCI

Intraday Buy Call For IFCITechnical analyst Anil Singhvi has maintained 'buy' rating on IFCI Limited stock to achieve an intra-day target of Rs 54.

According to analyst, the investors can buy the stock with stop loss of Rs 50.50.

The stock of the company, on February 18, closed at Rs 51.25 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 5.40 respectively.

IFCI recorded a jump of 12% in its third quarter net profit, which stood at Rs 153 crore as compared to Rs 136 crore during the same period of 2009.

The state-run infrastructure lender stated that its income from operations grew by 65% to Rs 637 crore as against Rs 385 crore in the year ago period.

Company's Managing Director and Chief Executive Arul Kumar Rai added that during the first nine months of 2010-11, the income from operations increased 57% to Rs 1,748 crore.

Profit from operations remained at Rs 650 crore for the first nine month period, which depicted an increase of 62%, while PAT reached Rs 473 crore for the nine months, registering an increase of 11%.

For the nine month period ended December 2010, sanctions remained at Rs 10,920 crore, an increase of 145%.