IDFC good bet, may go to Rs 155-160: Aashish Tater

Aashish Tater of FortuneWizard.com told CNBC-TV18, "IDFC will soon become a bank and that will give you a de-merger share of 1:1 and this will be exactly the trigger for the stock. We had been making a call that you should be sitting on a lot of cash. The thrust has been that the price correction has been much steeper, the accidents that have happened in the system has been much steeper. So now you are seeing that value in the midcap and largecaps, relatively in the largecaps stocks. So I think IDFC is one bet where we feel there is limited downside and if someone who is from systematic investment plan (SIP) perspective or even from short-term perspective, he will make a handsome return given the risk reward.""October 1 is the date when this will start commencing its banking operation. So this is a great bet even for a future because you are getting IDFC management at a Rs 20,000 crore marketcap, bank at Rs 35,000 crore, I think the marketcap for this particular asset in next three years will justify the same valuation at least what YES Bank is deserving today," he added."When we see the shorter-term perspective, Rs 155-160 is the range that we are looking at because that is the technical resistance that we are seeing on the charts also. From longer-term perspective, if I try to adjust the marketcap that is what our longer-term vision is, it roughly works out to be Rs 240-250 but this is one story where it is a compounding story. It will not be a multibagger but it will be a wealth creator where you sit on this stock, look for compounding returns, this is one stock where you can definitely bet on," he said.