IDFC Limited is a financial services holding company based in India. It operates through various subsidiaries, including IDFC First Bank (formerly IDFC Bank), IDFC AMC (asset management company), IDFC Alternatives (private equity and infrastructure), and IDFC Securities.
IDFC Limited is a good buy for 2023 due to its strong fundamentals, customised credit card business, focus on online lending, and exposure in corporate funding, the company offers a strong liability franchise, retail franchise, and an attractive return on embedded value of around 20%.Additionally, India's penetration of life insurance is still low, offering potential for growth. Furthermore, the company has recently been cleared by the Securities and Exchange Board of India, adding to the stability of the stock The stock has also given a HEAD & SHOULDER resistance breakout and bullish candle stick pattern, and is currently trading in the ₹87 range. Market experts are expecting the stock to hit ₹100 and ₹120 in the short to medium term,. Additionally, IDFC Limited has delivered a whopping 65% return to its shareholders in the last six months.
Technically the stock looks good for buy at this level which is recently cross above year high & Head & Shoulder breakout.Very good buy above Rs.88 With stop loss rs. 80. Short medium term target Rs. 120.
Technically the stock looks good for buy at this level which is recently cross above year high & Head & Shoulder breakout.Very good buy above Rs.88 With stop loss rs. 80. Short medium term target Rs. 120.
Happy investing.
