Broker's Call: Deutsche retains buy on IDFC

Deutsche Bank has reiterated a ‘ Buy’ rating on IDFC and set a target price of .Rs175.

IDFC continues to report strong balance sheet growth even as it maintains stable spreads and asset quality. 2QFY13 net profit was Rs20%/17% ahead of consensus estimate on account of lowerthan-expected provisions.

“We believe that IDFC could be one of the bigger beneficiaries of new policy initiatives in infrastructure,” said Deutsche Bank.