IDFC is one of the leading financial institutions catering to the infrastructure sector in India. Its business growth is dependent on the growth of the domestic infrastructure sector. This sector, over the next 2-3 years, will require huge capital infusion and the company is in a position to meet the demands emanating from such fast growing sectors like energy, transportation and telecom. Currently, the scrip seems to be an attractive buy as the company in recent times has been aggressive and has expanded its footprint in the asset management services through buying of the mutual fund business of Standard Chartered. As per few leading brokers, the counter might witness an increase in the investor’s interest on account of the sharp correction that has happened in the last few weeks.
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