MStanley upgrades IDFC to overweight

Tags: Companies
Shares in IDFC Ltd gain more than 6 percent after Morgan Stanley upgrades the stock to "overweight" from "underweight" and raises its target price to 175 rupees from 115 rupees.

The investment bank cites potential benefits after RBI Governor Raghuram Rajan hinted at the possibility of exempting banks from liquidity ratio norms when raising debt for infrastructure.

Morgan Stanley also says IDFC's under-performance recently may be unjustified given its "good management, strong balance sheet, and diversified financial presence."

IDFC is up 30 percent in 2014, lagging 35.2 percent gains in the Bank Nifty over the same period.

EDITORIAL OF THE DAY

  • Mob rage against the Tanzanian woman betrays racial and gender prejudices

    The mob rage in Bangalore against the Tanzanian woman is a national disgrace from which we can never recover even if we punish the wrong doers.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sachin Shridhar

VIPism is casteism by another name

Much has been written and lamented about the all-pervasive VIP ...

Zehra Naqvi

‘What if the British never came to India?’

Legendary Canadian writer Margaret Atwood proves as elusive to the ...

Bubbles Sabharwal

It's the life in your years that counts

We are all in a sense pilgrim souls enjoying the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture