Wait and watch for IDFC: Mehraboon Irani, Nirmal Bang Securities

In a chat with ET Now, Mehraboon Irani, Principal & Head-Pvt. Client Group Business, Nirmal Bang Securities, gives his views on IDFC



This year IDFC was up 89%. It is the best performing stock on the Nifty. At a time when the investment cycle is yet to pick up, why is IDFC outperforming?

IDFC performed miserably in the early part of the year and you saw the stock back at levels where virtually everybody on the street was saying that if you have missed out on HDFC, IDFC is a stock to buy. We need to accept the fact that it is one of the better managed companies in the country. As optimism came back into the market post September people started looking at IDFC afresh. While the investment cycle has not kick-started, there is a lot of optimism that things will start happening. Possibly after the sharp run up if the stock comes off 10-15% from whatever reason, I will be looking at IDFC afresh.