IDFC replaces Financial Technologies  as another change in The Equity Desk XI .  IDFC is a surogate infrastructure play. Though the market cap is higher from what we try and put up at The Equity Desk still the growth visibility aided by the expanding AUM of the company indicates that  should continue to grow at 30% - 40% for the next 3 years at least.

Financial Technologies   on the other hand has been marred by the declining stake in MCX. This stake has fallen to below 50% and hence any consolidation of accounts is unlikely. When MCX lists we could take stock of the situation later.

Though Financial Technologies has created returns ovcer the past year or so the gains have been muted by The Equity Desk's standard's. Also the results have been aided by a string of other income transactions.

I think that IDFC is a better option though like the other change we made these are not companies whose EPS would grow like a rocket!

PE has independent investors and IDFC will get management fee and profit share.