Stock analysts have maintained ‘Buy’ rating on IDFC stock to achieve an intra-day target that lies between Rs 82-85 on Monday (May 04).

According to them, interested day traders can buy the stock around 74 with a stop loss of Rs 69.

Shares of the company, on Wednesday (April 29), closed at Rs 76.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 182.55 and a low of Rs 44.15 on BSE. Current EPS and P/E of the stock stood at 5.68 & 13.46 respectively.

So buy it, it will prove that it’s definitely a strategic stock.

Infrastructure Development Finance Company (IDFC), a non-banking finance company (NBFC), on April 30, has rolled out a private equity fund-of-funds unit based out of Singapore, IDFC Capital Pte. Ltd.

The unit has started raising a $500 million Asia-focused fund.

The fund is looking to make investment in private equity managers centred on mid-market, growth-focused investments in Asian emerging markets, particularly China and India.

IDFC plans to commit $50 million to the fund and is expecting first close later this year. IDFC Capital will also allocate fund to some other Asian emerging markets and Southeast Asia. It will also look at other emerging markets such as Sub-Saharan Africa.

In April 2009, IDFC said that it is looking for a mid-size private sector banking institution, which could provide the company a banking position via a share swap contract to enter the banking segment.

It is learnt that IDFC has named two investment banking companies - IDFC-SSKI and Kotak Mahindra Capital as advisors for exercising modalities on short listing a bank for a potential combination.

The target size of the agreement was estimated to be around Rs 30-35 billion.

IDFC, on March 20, assisted Essar Power for lifting an equity investment of Rs 3.5 billion for partially funding its continuing projects.

Essar Power said that IDFC investment clearly point outs that projects with well-built business fundamentals can still draw investment even in these tough times.