Short Term Buy Call For IDFC

Short Term Buy Call For IDFCTechnical analyst Rajesh Satpute has maintained 'buy' rating on Infrastructure Development Finance Company (IDFC) stock with a short term target of Rs 158.

According to analyst, the investors can buy the stock with stop loss of Rs 136.

The stock of the company, on May 02, closed at Rs 140.05 on the Bombay Stock Exchange (BSE).

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

Current EPS & P/E ratio stood at 8.77 and 15.78 respectively.

IDFC has registered 24.4% growth in its net profit, which stood at Rs 346.5 crore for the fourth quarter ended March 31, 2011.

IDFC registered a net profit of Rs 278.4 crore during the corresponding quarter of the previous fiscal.

Company said that its income from operation surged to Rs 1,298.2 crore in the January-March period as against Rs 931.1 crore during the same period of 2010.

In addition, the infrastructure finance company announced a dividend 20% or Rs 2 a share for the last fiscal (2010-11).

For the fiscal year ended March, 2010, the company had a net profit of Rs 1,277.1 crore as against Rs 1,012.8 crore in the previous financial year.




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