In its latest research report, Nirmal Bang, an equity research firm said that India Infoline Ltd can give good returns in the short term.

According to Nirmal Bang Research, interested traders can buy the stock with a strict stop loss of Rs 127.

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

Today (Sep 17), the shares of the company opened at Rs 142 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 173.25 and a low of Rs 34.40 on BSE. Current EPS and P/E of the stock stood at 3.75 & 37.52 respectively.

India Infoline Ltd has posted an increase of 8.06% in its net profit for the quarter ended June 2009. The company earned a net profit of Rs 44.50 crore during the period as compared to Rs 41.18 crore in June 2008.

During the three month period, India Infoline's total income surged by 11.23% to Rs 187.98 crore.

Infoline's net profit increased by 4.32% to Rs 51.67 crore for April-June quarter, as compared to Rs 49.53 crore in the same period a year-ago.

But, the company had posted a decline of 4.72% in its total income, which stood at Rs 256.33 crore.