Synopsis
IDFC First Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 46227.58 Crore).
iStockMotilal Oswal Financial Services has buy call on IDFC First Bank with a target price of Rs 73. The current market price of IDFC First Bank is Rs 70.07. Motilal Oswal Financial Services recommended to keep stop loss at Rs 67.
IDFC First Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 46227.58 Crore).
IDFC First Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 7822.23 Crore, up 10.73 % from last quarter Total Income of Rs 7064.33 Crore and up 45.26 % from last year same quarter Total Income of Rs 5384.83 Crore. The bank has reported net profit after tax of Rs 816.12 Crore in latest quarter.
Investment Rationale
Follow up buying after breakout on daily frame and making higher highs–higher lows over six weeks.
Promoter/FII Holdings
Promoters held 39.99 per cent stake in the company as of 31-Mar-2023, while FIIs owned 19.31 per cent, DIIs 7.65 per cent.
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