Wednesday, February 10, 2010

Stock Idea: IDFC

QoQ, the financial performance of IDFC seems to show some pressure but a look at the 9MFY10 performance shows that the company is well on the road to success.
For 9MFY10, Operating income increased by 32% to Rs. 1,508 crore compared to 9MFY09. NII rose 20% at Rs.801 crore. There was growth in non-interest income, which during the 9M of the current fiscal showed a growth of 50%. IDFC expects this non-interest income to remain robust in Q4 also. Fees from IDFC’s asset management business increased 1.67 times, that from investment banking and broking activity increased by 55% and from principal investments increased by 52%.
PBT increased by 30% from Rs. 869 crore to Rs. 1,128 crore. PAT increased by 32% from Rs. 634 crore to Rs. 834 crore. On an equity of Rs.1296.58 crore, it posted an EPS of Rs.6.38 on Rs.10 face value. Foreign holding (FII + FDI) as on as on December 31, 2009 was at 44.9% v/s 39.5% as at 31st March 2009. GoI holds 20.2%, Corporate Bodies hold 3.3%, Mutual Funds hold 5.8%, FIs/Insurance Cos/Banks hold 16.3% and retail investors have just 9.5%.
Its balance sheet size at the end of Q3 stood at Rs. 31,207 crore, an increase of 4%. Total assets under management was US$7.5 billion.
The company had ended FY09, with a total revenue of Rs.3313.25 crore and net profit of Rs.735.92 crore. Based on its 9M performance, IDFC could end FY10 with a total revenue of around Rs.3400 crore and net profit is estimated at Rs.950 crore.
Source: Internet (premiuminvestments.in by S P Tulsian)

Intraday Trading Calls for 10th February

Indian Stock Market may open positive and remains positive with high volatility for the day today. A good positive closing expected.
Today's Intraday Stock Tips / Trading Calls (Keep strict Stop Loss for Each Trade):

SCRIP NAME

TRIGGER

PRICE

TARGET 1

TARGET 2

SASKEN COMM.

Buy Above

172.30

178.45

184.00

Sell Below

170.00

165.25

160.00

IDBI

Buy Above

118.70

122.20

126.00

Sell Below

117.40

113.20

110.00

GNFC

Buy Above

120.20

124.70

130.00

Sell Below

118.35

114.20

110.00

ATLANTA

Buy Above

183.25

188.65

195.00

Sell Below

180.40

174.55

168.00

CAIRN INDIA

Buy Above

261.50

265.15

269.00

Sell Below

259.35

256.10

252.00

BRFL

Buy Above

215.80

221.40

226.00

Sell Below

214.20

209.55

205.00

JINDAL SAW

Buy Above

195.05

201.35

208.00

Sell Below

192.15

187.55

182.00

GOOD LUCK

Disclaimer

The information in this publication is provided by http://www.moneybazzar.blogspot.com/ is intended for use for Readers & Traders . Every effort is made to provide accurate information, but http://www.moneybazzar.blogspot.com/ cannot guarantee the accuracy of the information or of the market analysis. This is a newsletter and is for informational purposes only. It is not a solicitation or offer to buy or sell futures. There is a high risk of loss in trading futures. You should not trade with money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this newsletter. The past performance of any trading system or methodology is not necessarily indicative of future results.



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