IDFC First Bank posts 35% quarter 2 profit
India Business News: MUMBAI: IDFC First Bank has reported a net profit of Rs 751 crore for the quarter which ended in September 2023, representing a 35% increase over the .
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India Business News: MUMBAI: IDFC First Bank has reported a net profit of Rs 751 crore for the quarter which ended in September 2023, representing a 35% increase over the .
Informing BSE on the status of shareholding in the entity with whom the agreement is executed, the bank said that NSDL does not hold any shares in IDFC FIRST Bank Limited.
Investec initiated coverage on IDFC First Bank with a hold rating and a target price of Rs 103. Balance sheet stability should ensure high growth.
“There was much under-ownership and IDFC First is headed higher. IDFC First Bank will be the next HDFC in the making in the next five years. Please stay put. If you are invested and if you are looking for corrections, then this would be a good opportunity as it consolidates closer to Rs 85-90.”
“HDFC Bank, Kotak Mahindra Bank and ICICI Bank are all facing different issues. Broadly, it is okay. I do not see financials in terms of real stress coming and at some point of time, the credit cycle will also reverse, some stress will come, but probably we are some quarters away from that.”