52440 Investors following IDFC. Share this News with them.
0
Like this story, share it with millions of investors on M3
Buy IDFC, target of Rs 208: ULJK Securities
ULJK Securities has recommended a buy rating on Infrastructure Development Finance Company with a target price of Rs 208. Q1FY09 net interest income has shown a strong growth of approx 61% on YoY basis.
ULJK Securities has recommended a buy rating on Infrastructure Development Finance Company with a target price of Rs 208 in its July 19, 2008 research report. "Q1FY09 net interest income has shown a strong growth of approx 61% on YoY basis. The Net Interest Income stands at Rs.2140 million in Q1FY09. The strong growth comes from the growth in core business income. Its NII from infrastructure activity stands at Rs 1770 million, up by 70% YoY. Loan book has also grown up by 42% which is in line with our expectation of 40% growth."
"At the CMP of Rs 109, the stock is trading at P/BV of 2.2x and 1.9x for FY09E book value of Rs 49.2 and FY10E book value of Rs 56.7. Given the strong fundamentals and consistent growth in the core business, we recommend Buy on the stock with a target price of Rs 208 for a medium period," says ULJK Securities' research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
