Rajesh Agarwal, Director - Research at Eastern Financiers Limited told CNBC-TV18, "In IDFC I think there is at least 15-20 percent upside left from the current market price based on the fact that the first quarter numbers were pretty good with around 47 percent jump in bottom-line. Even the disbursals were good, they are a contender for banking license if that happens that would be a big positive trigger.”
“Even on valuation parameters it is trading at just slightly higher than one time price to earning of around 10. So valuations are also not that high but still going forward I don't think much upside is left, maximum it can go to Rs 110-115 levels in the next six months. So I would suggest hold on to your position, don't add.”
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