Buy IDFC, target Rs 54: Manas Jaiswal

Manas Jaiswal, manasjaiswal.com recommends a buy rating on IDFC with a target price of Rs 54 and a strict stop loss placed at Rs 48. The stock has gained 4 per cent so far in the calendar year 2016. The stock is looking bearish on the charts.

IDFC is a high beta stock (1.07) and is trading well above its 50-day, 100-day and 200-day moving averages at Rs 43.67, Rs 42.66 and Rs 50.55 respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of -6.95 and P/B of 0.47.