Jefferies maintains 'buy' call on IDFC First Bank, sees 22% upside #Jefferies #IDFCFirstBank #MoneyControl #ETMarket #ZeeNews #Mint @tradingtech1 Shares of IDFC First Bank will be in focus after Jefferies maintained a 'buy' call on the counter as analysts see multiple levers from its credit cards business and assigned a target price of Rs 100 per share, implying an upside of 22 percent from the current levels. So far this year, the stock of this private sector lender has declined over 6 percent, underperforming a 2.4 percent rise in the benchmark Nifty. Earlier, IDFC First Bank shares had hit 52-week high of Rs 100 per share on September 5, 2023.
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IDFC First Bank reported a net profit of Rs 715.68 crore for the third quarter of the financial year 2023-24, which is 18 per cent more than the same quarter in FY23. The bank's gross non-performing asset (NPA) stood at 2.04 per cent, down from 2.96 per cent in the previous quarter. Net interest income rose by 30 per cent to Rs 4,287 crore, and customer deposits increased by 43 per cent year-on-year to Rs 1.76 lakh crore. The bank's board has approved a composite Scheme of Amalgamation, and it has received approvals from regulators for the merger of IDFC Financial Holding Company with IDFC Limited and IDFC Limited with IDFC First Bank. #AsiaOperations #OperatingResults #India Follow us for daily updates on risk and operations in Asia! https://lnkd.in/gNd8hcZN
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RBL Bank Q4 results: Standalone PAT jumps 30% YoY to Rs 353 crore RBL Bank reported a net profit growth of 30% to Rs 353 crore for the quarter ended March 31, 2024 as against Rs 271 crore reported by the lender in the year ago period. The profit after tax (PAT) jumped 51% on the quarter-on-quarter basis versus 233 crore posted in the October-December quarter. #rblbank #Q4Results #Q4FY24 #q4 #shares #stockmarket #sharemarket #stockmarketinvesting #sharemarketinvesting #stockmarketindia #directusinvestments
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RBL Bank Q4 results: Standalone PAT jumps 30% YoY to Rs 353 crore RBL Bank reported a net profit growth of 30% to Rs 353 crore for the quarter ended March 31, 2024 as against Rs 271 crore reported by the lender in the year ago period. The profit after tax (PAT) jumped 51% on the quarter-on-quarter basis versus 233 crore posted in the October-December quarter. #rblbank #Q4Results #Q4FY24 #q4 #shares #stockmarket #sharemarket #stockmarketinvesting #sharemarketinvesting #stockmarketindia #directusinvestments
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IDFC First Bank 📊 Sideways rectangle chart pattern on daily timeframe is seen in the chart. After breaking the level of 76, the stock is likely to go up by 10%. 📌Axis Securities has a target price of Rs 90 per share, with a buy call #Investing #Swingtrading #Stockmarket #Equityresearch
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After last month’s devaluation announcement, revised features of IDFC FIRST Bank Credit Cards get effective from today. Restructuring of the reward points system is one of the key changes that comes into effect, along with added exclusions on accelerated earning. Reward benefits have been the mainstay of IDFC FIRST’s Credit Cards, especially Classic, Millennia, Select and Wealth. Lifestyle benefits across movies and lounge access have also been revised. What would be the impact of the revisions on the overall value potential of IDFC FIRST Cards? Download Paisabazaar’s Cheatsheet and find out. #Devaluation #CreditCards
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IDFC Bank results highlights! IDFC First Bank reported its Q4 FY24 results recently. Here are the key highlights. 1. Net Profit: The bank’s net profit declined by 10%, amounting to ₹724 crore in the fourth quarter ending March 2024. In comparison, during the same period last year, the bank had earned a net profit of ₹803 crore. 2. Total Income: IDFC First Bank’s total income increased to ₹9,861 crore in Q4 FY24, up from ₹7,822 crore in the corresponding quarter of the previous year. 3. Net interest income: The decline in profit is attributed to a substantial rise in provisions. Despite this, the bank’s net interest income (NII) witnessed a healthy growth of 24%. #stockmarket #personalfinance #finance
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When IDFC FIRST Bank and Capital First merged in 2019, the common issue pointed by all commentators was that the Bank had low CASA of 9%, and the biggest challenge in front of the bank will be to raise deposits in a competitive environment. As it turns out, the Bank’s customer deposits have risen from Rs. 38,000 at merger five years ago to Rs. 1.8 lac crores today and guided to reach Rs. 6,00,000 crores by FY 29. Such progress has been made by the Bank by taking a highly customer friendly approach. The products are designed in such a way that every employee should be confidently offer their product to their nearest family members. Thus the “Near and Dear Test” for every product released to the market. The Bank has built a strong brand in the market and seen as an institution, which also has helped this achievement. In an interview to Financial Express, IDFC FIRST Bank MD & CEO, Mr V Vaidyanathan, says that by successfully raising retail deposits, the Bank has paid off a majority of legacy IDFC infrastructure Bonds since the merger. But it is yet to pay back over Rs. 30,000 crores of Bonds and Borrowings. Once these are paid off over the next couple of years, the Bank will not require to grow deposits at this pace and can slow down deposits from current 40% to just match loan growth rates of around 22%. He said the Bank is very focussed on cash flow lending which explains the high asset quality over 14 years with current Gross NPA and Net NPA of retail, rural and MSME lending at 1.5% and 0.5% respectively. He said the bank is highly profitable now with PAT of over Rs. 2300 crores in FY 23 and is focussed on building a world class bank in India. #IDFCFIRSTBank #AlwaysYouFirst Vaidyanathan V Financial Express (India)
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Customer trust and satisfaction is paramount in all industries and IDFC has done its job well in maintaining this.
When IDFC FIRST Bank and Capital First merged in 2019, the common issue pointed by all commentators was that the Bank had low CASA of 9%, and the biggest challenge in front of the bank will be to raise deposits in a competitive environment. As it turns out, the Bank’s customer deposits have risen from Rs. 38,000 at merger five years ago to Rs. 1.8 lac crores today and guided to reach Rs. 6,00,000 crores by FY 29. Such progress has been made by the Bank by taking a highly customer friendly approach. The products are designed in such a way that every employee should be confidently offer their product to their nearest family members. Thus the “Near and Dear Test” for every product released to the market. The Bank has built a strong brand in the market and seen as an institution, which also has helped this achievement. In an interview to Financial Express, IDFC FIRST Bank MD & CEO, Mr V Vaidyanathan, says that by successfully raising retail deposits, the Bank has paid off a majority of legacy IDFC infrastructure Bonds since the merger. But it is yet to pay back over Rs. 30,000 crores of Bonds and Borrowings. Once these are paid off over the next couple of years, the Bank will not require to grow deposits at this pace and can slow down deposits from current 40% to just match loan growth rates of around 22%. He said the Bank is very focussed on cash flow lending which explains the high asset quality over 14 years with current Gross NPA and Net NPA of retail, rural and MSME lending at 1.5% and 0.5% respectively. He said the bank is highly profitable now with PAT of over Rs. 2300 crores in FY 23 and is focussed on building a world class bank in India. #IDFCFIRSTBank #AlwaysYouFirst Vaidyanathan V Financial Express (India)
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IDFC First Bank Q2 updates: Advances grew by 21.3%, at 2,22,188 cr Deposits grew by 32.2%, at 2,17,738 cr A high CASA ratio of 48.9% vs 46.4% last year. When other banks are struggling to get more CASA deposits, IDFC First is not only maintaing it's already high CASA ratio but also increasing it. A high CASA ratio enables the bank to improve it's profitability, as CASA deposits are low-cost source of funds for the banks. GNPA had increased marginally last quarter so that needs to tracked when full results are out. IDFC is available at a P/B of 1.59 which seems like a much better bet than HDFC Bank trading at a P/B of 2.78 with a 7% growth. Note: This is not a recommendation. DYDD before investing
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IDFC FIRST BANK Monthly Time Frame Stock is moving a Lower High & Higher High price structure. From the first low price moved up by 51 points then retraced by 40: points. Later gave a rally for 71 points and retraced by 25 points. Now the stock is a buying zone and from here the stock will be looking for a new Higher High formation. Positional setup on spot.
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