Buy IDFC First Bank, target price Rs 104: Axis Securities

Axis Securities has buy call on IDFC First Bank with a target price of Rs 104. The current market price of IDFC First Bank Ltd. is Rs 82.3.

IDFC First Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 57750.98 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 31-03-2024, the company reported a Consolidated Total Income of Rs 9862.50 Crore, up 4.96 % from last quarter Total Income of Rs 9396.06 Crore and up 26.08 % from last year same quarter Total Income of Rs 7822.23 Crore. The bank reported net profit after tax of Rs 731.90 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 37.43 per cent stake in the company as of 31-Mar-2024, while FIIs owned 23.65 per cent, DIIs 6.76 per cent.