Stock market analysts have maintained ‘Buy’ rating on IDFC to achieve an intraday target of Rs 128.
 
According to analysts, investors can buy the stock above Rs 118 with a stop loss of Rs 112. If the stock market remains positive, the next intraday target should be above Rs 138.

Shares of the company, on Tuesday (June 02), closed at Rs 121.40 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 5.68 & 22.59 respectively.
The share price has seen a 52-week high of Rs 150.70 and a low of Rs 44.15 on BSE.

The stock has great potential to rise on the back of healthy growth plans and strong operating capabilities.

Infrastructure Development Finance Company (IDFC), on May 05, has allotted 1,50,000 options equivalent to 150,000 equity shares at Rs 85.60 per equity shares to its employees, pursuant to IDFC employee stock option scheme 2007.

In April 2009, the company said that it is looking for a mid-size private sector banking institution that could lend the company a banking position via a share swap pact to make entry into the banking segment.

It was also discovered that IDFC, which has been trying to get a banking license from the central bank, has nominated two investment banking companies including IDFC-SSKI and Kotak Mahindra Capital as advisors for working out modalities on short listing a bank for a potential amalgamation.

IDFC, in March 2009, helped Essar Power for lifting up an equity investment of Rs 3.5 billion for partially funding its ongoing projects.

Essar Power stated that IDFC investment undoubtedly shows that projects with strong business fundamentals can still attract investment even during these challenging times.