Nirmal Bang, one of the leading equity research-cum-broking house, has recommended a buy on India Infoline Ltd with a target of Rs 145 in the short term.

The report further stated that, if the counter is successful to breach 145, then it will hit a target of Rs 160.

In addition, the firm has suggested a support level for the scrip at Rs 126.

Today (Sep 04), the shares of the company opened at Rs 135.95 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 3.75 & 35.47 respectively. The share price has seen a 52-week high of Rs 173.25 and a low of Rs 34.40 on BSE.

For the three month period ended June 2009, India Infoline Ltd has recorded a growth of 8.06 per cent in its net profit, which stood at Rs 44.50 crore as against Rs 41.18 crore during the same period previous year.

During the period, the company's total income came up by 11.23 per cent to Rs 187.98 crore as compared to Rs 168.99 crore.

The company's net profit climbed by 4.32 per cent to Rs 51.67 crore for April-June quarter this year, against Rs 49.53 crore during the corresponding period a year-ago.

But, the company's total income declined 4.72 per cent to Rs 256.33 crore from Rs 269.04 crore during the first quarter of the current financial year.

India Infoline provides advice and execution platform for the complete range of financial services comprising products ranging from Asset management, Investment Banking, Commodities, GoI bonds, Fixed deposits, Loans, Wealth management, Insurance, Equities and derivatives and other small savings instruments.

Moreover, India Infoline has been announced the 'Best Broker, India' by FinanceAsia and the 'Most improved brokerage, India' in the AsiaMoney polls.