Shares in Infrastructure Development Finance Company (IDFC) rose 4.6% after both CLSA and Deutsche Bank upgrade the stock
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 November 27, 2015, IDFC closed at Rs 53.05, up Rs 0.30, or 0.57 percent. The 52-week high of the share was Rs 187.50 and the 52-week low was Rs 51.75.
The latest book value of the company is Rs 106.21 per share. At current value, the price-to-book value of the company was 0.50.
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