Sunday, October 11, 2009

IFCI HUGE EQUITY CAPITAL:AVOID


Hi Mahesh ji,
Can u give me Ur opinion on ifci? Can we purchase at this level. Ask by shri dukkipati satish.
1. IFCI is a 10 rupees face value share.
2. IFCI Ltd has informed BSE that the Company has acquired 5% stake in the present equity share capital of MCX Stock Exchange Ltd (MCX-SX) from Financial Technologies (India) Ltd ("FTIL") at Rs 35/- per equity share, subject to the terms & conditions of the Agreement, entered between the Company & FTIL.
3 equity capital of IFCI is very high 7378.40 million is a negative sign because IFCI have net profit of 1007.80 million in June 09 quarter but EPS only 0.88 due to huge equity capital.
4. Promoter holding in IFCI is zero and remembers this is a former penny stock major stock holder of IFCI is LIC PNB canara bank uco bank etc.
5. So overall I do not like this share
THIS ANALYSIS IS MAHESH CHANDER KAUSHIK OPINION ONLY NOT A PROFESSIONAL ADVICE SO READ DISCLAIMER BEFORE TAKE ANY ACTION.
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