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

  • The ‘new-collar’ jobs will make their presence felt as AI spreads

    For second year in a row, global elite has talked about artificial intelligence (AI), which is bound to disrupt our lives in near future.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Disequilibrium: The cleansing & the yearning

As Twitter trolls went about their ugly business against Zaira ...

BK Chaturvedi

The politics of election

Elections in five states have been announced by the election ...

Rajgopal Nidamboor

Of life’s essentiality and synchrony

It is no big deal to think of psychology as ...