Buy IDFC, target price Rs 93: Motilal Oswal Financial Services

Motilal Oswal Financial Services has buy call on IDFC with a target price of Rs 93. The current market price of IDFC is Rs 87.8. Motilal Oswal Financial Services recommended to keep stop loss at Rs 84.

IDFC, incorporated in the year 1997, is a Mid Cap company (having a market cap of Rs 13945.20 Crore) operating in Term Lending Institutions sector.

IDFC key Products/Revenue Segments include Interest for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 58.46 Crore, up 161.33 % from last quarter Total Income of Rs 22.37 Crore and down -57.92 % from last year same quarter Total Income of Rs 138.93 Crore. Company has reported net profit after tax of Rs 78.85 Crore in latest quarter.

The company’s top management includes Mr.Anil Singhvi, Mr.Mahendra N Shah, Mr.Ajay Sondhi, Ms.Anita Belani, Dr.Jaimini Bhagwati. Company has KKC & Associates LLP as its auditors. As on 31-12-2022, the company has a total of 160 Crore shares outstanding.

Investment Rationale
Surpassed its hurdle of 86 zones & making higher highs-higher lows from the last 3 weeks.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Dec-2022, while FIIs owned 21.45 per cent, DIIs 16.92 per cent.