Union Budget 2014: Focus on infra a step in right direction, says Lall of IDFC

In an interview to CNBC-TV18, Rajiv Lall discusses the pros and cons of the Union Budget.

India Inc is effusive in its praise for the Budget. "The government's focus on infrastructure, railways and rural supply chain is a step in the right direction," says Rajiv Lall of IDFC .

In an interview to CNBC-TV18, Lall said that he had expectations on three areas -- boosting confidence by bringing in tax reforms, quality of government expenditure and how are they going to recapitalize the banking system and balance sheets of Corporate India. "I think the Budget has done a pretty credible job under all these criteria," he added.

Transcript to follow

IDFC stock price

On July 10, 2014, at 14:30 hrs IDFC was quoting at Rs 156.00, up Rs 16.95, or 12.19 percent. The 52-week high of the share was Rs 159.75 and the 52-week low was Rs 76.25.

The company's trailing 12-month (TTM) EPS was at Rs 11.21 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 13.92. The latest book value of the company is Rs 96.97 per share. At current value, the price-to-book value of the company is 1.61.

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