Shares in Infrastructure Development Finance Company (IDFC) rose 4.6% after both CLSA and Deutsche Bank upgrade the stock
Shares in Infrastructure Development Finance Company (IDFC)
CLSA raises IDFC to "buy" from "outperform" and keeps its 12-month target price at Rs 150 , citing "attractive" valuations and positives from its recent earnings, including an uptick in loan growth and more stable asset quality.
Deutsche Bank upgrades IDFC to "buy" from "hold" and keeps price target at Rs 140, also citing valuations, and adding net spreads will expand due to a likely decline in funding costs in the second half of fiscal 2013.
IDFC stock price
On July 31, 2014, IDFC closed at Rs 152.30, down Rs 4, or 2.56 percent. The 52-week high of the share was Rs 166.70 and the 52-week low was Rs 76.25.
The company's trailing 12-month (TTM) EPS was at Rs 11.21 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 13.59. The latest book value of the company is Rs 96.97 per share. At current value, the price-to-book value of the company is 1.57.
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