MUMBAI: Nirmal Bang has advised traders to buy and hold IFCI. It expects the stock to touch Rs 62 in the short term.
“IFCI is currently consolidating in the range of Rs 51-57. Strong volumes were witnessed in the last couple of days. Buy and hold with a stoploss of Rs 51. Stock is getting ready for a big move, short term target looks possible at Rs 62 and in the medium term Rs 67,” the report said.
IFCI a buzzing counter again after the merger/stake sale news hit the stands.
Which option you think beneficial to the shareholders....?
1. Merging IFCI with another institution
2. Stake sale to a perfect suitor
I think selling stake will bring more value to the shareholders than merging with another institution.
My Dear Friends - As I have been suggesting for RNRL, please do not take plunge in to IFCI on such rumors. When a majority of the mkt expects sumthing, generally what happens is just its opposite. The people are praying for SOME ONE BIG to enter so that their exit is possible. Nothing can be much ridiculous!.
Apply common sense and act smartly than reacting emotionally.
| NIFTY 
