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IDFC

By Sudarshan Sukhani 

Tuesday, November 6, 2012
     

Stay invested in IDFC, says Sudarshan Sukhani of s2analytics.com. It was in a bear market for years altogether. It seems to have completed a very big downtrend. It is now rallying.

IDFC Limited, formerly Infrastructure Development Finance Company Limited, is engaged in financing by way of loans, asset management and investment banking. It is engaged in financing infrastructure projects in sectors like energy, telecommunication, transportation, commercial and industrial projects, including hospitals, education, tourism and hotels. The different Strategic Business Units (SBUs) are structured into four platforms: Corporate Finance, Investment Banking, Alternative Asset Management and Public Markets Asset Management. It also does Policy Advisory, Capacity Building, and Public-Private Partnership advisory. The Corporate Finance platform consists of project finance, fixed income and treasury. Investment Banking business consists of advisory/capital raising services and institutional broking. Alternative Asset Management business includes the private equity and project equity asset classes.

Sukhani told CNBC-TV18, \"One should continue holding IDFC....It was in a bear market for years altogether. It seems to have completed a very big downtrend. It is now rallying. It is just in the first initial stages of its bull market that is obviously my perception. If that is so, then IDFC has a lot of headroom on way upside. Keep it as a long-term investment not as a short-term trade," as quoted by Moneycontrol.

He further added, "There are some other PSU banks which must be avoided - PNB, Bank of Baroda, Vijaya Bank, a long list also. This list is divided in two parts. The ones that have shown resilience and strength will continue to outperform."

At present, IDFC is being traded at 163.00. Its 52 week high value is 169.25 and 52 week low has been 90.40. Its average trading volume is 6,032,324.