| 
| Query corner: IDFC
Last Updated: 2009-09-27 15:09:44
Please advise me on Infrastructure Development Finance Company (IDFC) bought at Rs 147. Savitha
IDFC (Rs 144.1): In our review of this stock in March this year, we had advised that investors with a higher risk appetite could buy close to Rs 45 while others could buy on a close above Rs 75.
The targets for the next 12 months were then given at Rs 70 and then Rs 85. IDFC has however outdone our expectation to move above these levels in the May upsurge. It has retraced 50 per cent of the decline from the January 2008 so far.
The sideways move between Rs 115 and Rs 150 since the second week of June appears to be a consolidation phase before the stock attempts to move higher to the next medium-term target at Rs 163. Strong close above this level will take the stock towards Rs 182 and then Rs 210.
Investors with a medium-term perspective can hold the stock with a stop at Rs 105. The stock can also be accumulated in declines with the same stop.
| 
|
| © Copyright Sify Technologies Ltd, 1998-2009. All rights reserved. India News Portal, Sify.com hosted at SifyHosting India's first Level 3 Internet Data Centre. Site optimized for Internet Explorer 5.5 and above. See Disclaimer | Privacy Policy & Parental Guidance on pornography | careers@sify | About Us | Feedback | Advertise |