Gorashekhar told CNBC-TV18, "We have a buy on IDFC. We have a target of Rs 163. We like IDFC because the Budget has also been extremely centric around infrastructure spending and the government has also put down its clear intentions in place, targeting a GDP growth of almost 8% and over 9% for FY012."
He further added, "Our sense is that maybe in the short term the management did say that they were not interested in putting up a bank. But even in the NBFC space, we believe that IDFC is one of the few stocks, which has a very strong business model, very strong management team and even on the medium term side we would like to put our bets at the current level of price where we feel the price of Rs 200-210 in the next 6-8 months is very much possible because as the infrastructure story picks up definitely IDFC should look up. For the short term we have a target price of Rs 163."
At 14:33 hrs the share was quoting at Rs 163.70, up Rs 4.30, or 2.70% with volumes of 778,853 shares. Currently the share is 270.78% above the 52-week low of Rs 44.15.
