Stock to buy: If you are thinking of betting in any quality shares, then this is useful news for you. Market experts have recommended buying shares of IDFC First Bank Ltd. According to the brokerage firm, the shares of IDFC First Bank Limited may rise in the coming one to two months.
What is the target price?
Aastha Jain of Hem Securities, Avinash Gorakshkar of Profitmart Securities and market expert Raghavendra Kedia have placed IDFC First Bank Ltd among the stocks to be added to the portfolio in the coming days. According to them, this share can reach Rs 92 in 1-2 months.
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Let us tell you that the bank has industry leading deposit and loan growth and is expected to have a 30% CAGR in profit after tax from FY 2024 to FY 2026, making it an attractive bet. The Bank has performed well in the inclusion of GNPA in the SME segment.
25 lakh shares of this company were sold, panic among investors, price came down to ₹ 48
march quarter results
IDFC First Bank’s net profit in the fourth quarter of the last financial year (January-March, 2024) declined by 10 percent to Rs 724 crore. The net profit of the bank in the same quarter of the financial year 2022-23 was Rs 803 crore. IDFC First Bank said in a stock exchange filing recently that its total income increased to Rs 9,861 crore in the March quarter, from Rs 7,822 crore in the same quarter of 2022-23. The company’s interest income increased to Rs 8,219 crore in the March quarter from Rs 6,424 crore in the March 2023 quarter. The bank’s net interest income (NII) rose 24 per cent to Rs 4,469 crore in the March quarter from Rs 3,597 crore in the same quarter of 2022-23. By the end of the last financial year, the bank’s gross non-performing assets (NPAs) declined to 1.88 percent of gross advances, which was 2.51 percent by the end of March 2023. The bank’s net NPA also declined to 0.60 per cent from 0.86 per cent at the end of 2022-23.
