IDFC recovers after 4-day 4.3% slide

IDFC rose 2.92% to Rs 144.65 at 12:06 IST on BSE, with the stock recovering on bargain hunting after 4-day 4.35% slide.

Meanwhile, the S&P BSE Sensex was up 90.16 points or 0.49% at 18,527.94.

On BSE, 1.22 lakh shares were traded in the counter as against average daily volume of 5.83 lakh shares in the past one quarter.

The stock hit a high of Rs 144.85 and a low of Rs 141.95 so far during the day. The stock had hit a 52-week high of Rs 185.35 on 7 January 2013. The stock had hit a 52-week low of Rs 110.50 on 7 May 2012.

The stock had underperformed the market over the past one month till 8 April 2013, sliding 12.21% compared with the Sensex's 6.33% fall. The scrip had also underperformed the market in past one quarter, declining 22.07% as against Sensex's 6.61% fall.

The large-cap company has equity capital of Rs 1514.73 crore. Face value per share is Rs 10.

Shares of IDFC had declined 4.35% in four trading sessions to settle at Rs 140.55 on Monday, 8 April 2013, from a recent high of Rs 146.95 on 2 April 2013.

IDFC's consolidated net profit rose 19.4% to Rs 455.07 crore on 24.9% growth in total income to Rs 2047.58 crore in Q3 December 2012 over Q3 December 2011.

IDFC is an integrated infrastructure finance player providing end to end infrastructure financing and project implementation services. The company also offers asset management services through IDFC Mutual Fund.

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