Add IDFC First Bank, target price Rs 100: ICICI Securities

ICICI Securities has add call on IDFC First Bank with a target price of Rs 100. The current market price of IDFC First Bank Ltd. is Rs 88.4.

IDFC First Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 62259.16 Crore).

IDFC First Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 8765.81 Crore, up 6.48 % from last quarter Total Income of Rs 8232.47 Crore and up 34.22 % from last year same quarter Total Income of Rs 6531.16 Crore. The bank reported net profit after tax of Rs 746.85 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 39.37 per cent stake in the company as of 30-Sep-2023, while FIIs owned 24.48 per cent, DIIs 5.57 per cent.