IDFCFIRSTB.NSE IDFC First Bank Ltd.
8,008
77.80
2.35
(2.93%)
| Watchers | 8,008 |
| 52-Wk Low | 63.00 |
| 52-Wk High | 100.70 |
| Market Cap | 566.05B |
| Volume | 40.71M |
| 52-Wk High | 100.70 |
| 52-Wk Low | 63.00 |
Hold IDFC FIRST Bank: target of Rs 85: ICICI SecuritiesMoneycontrol • 8 days ago
ICICI Securities recommended hold rating on IDFC FIRST Bank with a target price of Rs 85 in its research report dated April 28, 2024.
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Motilal Oswal recommended Neutral rating on IDFC First Bank with a target price of Rs 88 in its research report dated April 28, 2024.
Some the key levers for re-rating would include margin expansion, bump up in deposit franchise, improvement in cost trends
Experts feel the Nifty is likely to correct up to 22,300-22,200 and breaking of the same can take it down up to 22,000 mark, but in case of recovery, 22,700-22,800 may be the key hurdle
Jefferies anticipates IDFC First Bank maintaining strong deposit growth with a 28% CAGR from FY24-27, supporting expansion and bond repayment. Cost pressures are expected to ease as high-cost bonds decrease from Rs13600 crore to Rs300 crore by Mar-26, allowing for potential deposit rate cuts from FY27.
The bank has not complied with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’, the RBI said
In Shriram Finance, promoter Shriram Value Services bought 1.59 percent stake taking their total holding in the company to 5.05 percent
Private equity firm Warburg Pincus' affiliate Cloverdell Investment had previously diluted a cumulative 5.5 percent stake in IDFC First Bank through block deals in September and December 2023
The floor price set at Rs 75 per share, implying 4 percent discount to current market price.
PSU banks have staged a strong comeback, outperforming the Nifty Private Bank index with the Nifty PSU Bank Index delivering a remarkable 162 percent returns since March 2022, compared to 24 percent for private banks