IDFC gains; Morgan Stanley upgrades to overweight
Jul 07 2014 , Mumbai
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 26.8 percent in 2014, lagging 35.9 percent gains in the Bank Nifty over the same period.