Limited downside in IDFC on declines, says Sajiv Dhawan, JV Capital Services.
Dhawan told CNBC-TV18, "The problem is that for the short-term traders the opportunity is gone obviously there was a knee-jerk reaction up in several stocks especially IFCI but it is going to take some time. Obviously the news flow is there that they might have that potential to become a bank but from a fundamental perspective IDFC is a great stock to get into and have in one's portfolio, limited downside and there is huge potential on the upside with the government's emphasis on infrastructure and the spending risk."
He further added, " IFCI - maybe bit more for the speculators, below Rs 50 is a probably buy onto the stock. It is a stock which from time-to-time there is some market rumour and market buzz which drives the stock higher. But if you are just buying for that banking license news then I am afraid, I think that opportunity is gone at the moment."
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