IDFC may slip to Rs 121-115: Manghnani

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IDFC may slip to Rs 121-115: Manghnani

IDFC may slip to Rs 121-115, says Anil Manghnani of Modern Shares & Stock Brokers.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Anil Manghnani See what other Experts & Brokerages are saying about IDFC See messages about IDFC

IDFC may slip to Rs 121-115, says Anil Manghnani of Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "IDFC hit a major target at Rs 138 and if you look at the candle yesterday that's what we call a bearish engulfing pattern where it's completely negated the previous days' bull move. So Rs 132 to Rs 138 again is a short maybe stoploss of Rs 140 and then expects a correction back to about Rs 121-115 levels."

The company's trailing 12-month (TTM) EPS was at Rs 5.55 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 24.14. The latest book value of the company is Rs 69.87 per share. At current value, the price-to-book value of the company was 1.92. The dividend yield of the company was 1.49%.