Buy IDFC First Bank, target price Rs 107: Anand Rathi

Anand Rathi has buy call on IDFC First Bank with a target price of Rs 107. The current market price of IDFC First Bank Ltd. is Rs 81.92.
IDFC First Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 57594.55 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 31-12-2023, the company has reported a Consolidated Total Income of Rs 9396.06 Crore, up 7.19 % from last quarter Total Income of Rs 8765.81 Crore and up 33.01 % from last year same quarter Total Income of Rs 7064.33 Crore. The bank has reported net profit after tax of Rs 732.09 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 37.45 per cent stake in the company as of 31-Dec-2023, while FIIs owned 24.3 per cent, DIIs 6.52 per cent.