IDFC Bank before merger was Infra NBFC and most of the NBFCs had a bull run till 2017. Post that most of them corrected by 50-60%.
And IDFC also faced similar wrath. Had IDFC not been merged with Capital first, situation might have been worse.
IDFC as Infra NBFC was not a good bet at Rs 70. But IDFC First was fantastic bet at Rs 20 during Covid and Rs 40 in June.
And for someone holding at Rs 70, it might take sometime to make good returns. Remember, Microsoft made high of $58 in 2000 and from that due to down cycle and bad capital allocation it went down to $17-$18 in 2009. It took 16 years for Microsoft to break $58 level. Now it is trading at $270 level.
Have patience, bank is heading towards correct direction. It will soon cross previous level and will give you great returns.
Disc: Invested & biased.
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