IFCI reported Rs 497 crs net for Q2 as against Rs 246 crs for Q1 on equity of Rs 638 crs Full year expected Rs 2470 crs EPS Rs 39 fair value on PE of 7 is Rs 273 and at cmp 85 3 times upside is still left. IFCI also entered realty biz on its own. Acquired land at common wealth for Rs 100 crs which will be an Rs 500 crs project with.
We recommend buy on every dip, target around 145 in six months.
