IDFC : A quick review
BSE: 532659 NSE: IDFC CMP: Rs. 135.50 IDFC is an interesting play on the finance and infrastructure development. Being a huge DFI, it is turning out to be having a potential of a multi-bagger on the lines of ICICI bank and HDFC bank It has had a huge runup in price picking up from the lows of 44 to 147 last week. It has given up some gains in this week and is interestingly poised at 135 Based on the Mar 09 EPS of 5.68, it is sporting a P/E of >25, which from a fundamental view-point does not sound a bargain. It has shown promising EPS growth of > 25% yoy except for '09. Which is understandable given the slowing trend in the last year in lending. With immense potential in infrastructure funding, its exposure to Investment banking and mutual and lot of unlocked value in many subsidiaries, much of which is not fully captured in the price, its valuation has room to grow In spite of market correction in the last few days, IDFC's price march has been checked only a little. Even...