Exit IDFC, says Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "IDFC is hitting resistance levels at around Rs 49.50. So basically I feel the investors should get out now. Once the stock starts correcting, it could go all the way down to Rs 43-44.""The issue is that in terms of pure valuations, the price to book if you compare it to some of the other NBFCs, which it now will be - compare it to Rural Electrification Corporation (REC) etc, it is much more expensive and it is a lender to the infrastructure largely power. So I do think that one should maybe look at an exposure as to one of the alternate cheaper NBFCs which already have a well established model in place because IDFC is likely to go through a phase of set of realigning the way it does its business post its split with IDFC Bank, which just happened recently.""I think this quarter will be the first and we will see how the numbers shape up for IDFC. So I believe one should get out at current levels. Upside in my view is very limited from here," she added.