Dividend-paying IDFC stock falls 13% today. Opportunity for bottom fishing?

IDFC share price today opened downside and went on to hit intraday low of ₹78.50 apiece, logging over 13 per cent dip from its Friday close of ₹90.80 apiece on NSE. According to stock market experts, market is adjusting with ₹11 per equity dividend announced by the company as IDFC dividend record date is today. They said that the stock has strong support base at around ₹70 and it may go up to ₹100 apiece in next 2-3 months. They advised bottom finishers to take advantage of this dip and add this dividend paying stock in their portfolio for short to medium term. On why IDFC share price is falling today, Ravi Singhal, CEO at GCL Broking said, "IDFC shares are one of the dividend paying stocks today. The company has announced ₹11 per equity interim dividend and today’s fall is just a rebalancing act of the market. One should take advantage of this fall and buy the stock at current levels because the stock looks promising from both technical and fundamental perspective. The financial company has improved its asset quality and asset margins and the capital flow in the company is also expected to sustain for short to […]

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