Remain invested in IDFC: Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "When you see this kind of a dip in a stock, especially a good name then it always means that there is some or the other corporate action that has taken place. Like this morning, you could have woken up to see Bata suddenly half, so obviously, the price of Bata has not halved, it is just that there has been a stock split. So, similarly, in IDFC we have seen it getting split into their infra business and their banking business and the banking shares will get listed later and the shareholders will receive shares in November, is what the company has said."She further added, "What you are seeing getting traded now is the infra part of the business and typically when such splits happen there a period of price discovery which can run into some months. So, even after the banking stock is listed, do not expect that you will have 70 plus 70 adding up to 140. There could be some sort of gaps and that could take time. Again, given the kind of news that I have heard from IDFC regarding the kind of plan that they have for their banking strategy, I for one am looking forward to their roll-out, because obviously at this stage if you launch a bank, you have to really come out with innovative strategy and IDFC are working towards that, so it remains to be seen.""My real advice to you would be to just to stay put because I like the infra part of the business as well, but that has taken a hit because the way the entire infrastructure space has been. So, obviously the financing company would also see that slowdown in its books. So, if you are patient investor just wait it out for a couple of years because it is a good quality name and if their plans work out, IDFC Bank could really go places once it is listed," she added.