IDFC can move higher towards Rs 180-190: Sharma

Salil Sharma of Kapur Sharma & Co. is of the view that IDFC can move much higher towards Rs 180-190, if its crosses the level of Rs 165-166.

Sharma told CNBC-TV18, "IDFC is made a very good move and it’s in a very strong uptrend of its own. Rs 155 was an important level, it took support somewhere close to that and then now its started to move up." He further added, "The next resistance or target is close to around Rs 165-166 and I think that should be achieved in the next day or so. Once it moves beyond that then it could move much higher, closer to in that Rs 180-190 band." The company's trailing 12-month (TTM) EPS was at Rs 10.59 per share. (Jun, 2012). The stock's price-to-earnings (P/E) ratio was 15.26. The latest book value of the company is Rs 80.23 per share. At current value, the price-to-book value of the company was 2.01. The dividend yield of the company was 1.42%.