Short Term Buy Call For IDFC

Short Term Buy Call For IDFCTechnical analyst Ashutosh Sarna has maintained 'buy' rating on Infrastructure Development Finance Company Limited (IDFC) stock with a short term target of Rs 165.

According to analyst, the investors can buy the stock with a stop loss of Rs 135.

The stock of the company, on March 04, closed at Rs 148 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 8.37 and 17.28 respectively.

The share price has seen a 52-week high of Rs 218.20 and a low of Rs 124.70 on BSE.

IDFC has decided to lift around Rs 2,172 crore via long-term infrastructure bonds.

The 10-year infrastructure bonds contain a face value of Rs 5,000 each.

They are being supplied in two sequences.

In the first, they carry a coupon (interest rate) of 8.25%, which will be paid on an annual basis. Cumulative alternative contains identical coupon. The rate of interest is compounded per annum.

Investments in these long-term infrastructure bonds offer tax advantages.

In addition, IDFC Mutual Fund has launched an infrastructure fund, which directs to produce long-term capital growth via broadened portfolio of predominantly equity and equity-linked instruments.




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