Buy IDFC First Bank, target price Rs 60: ICICI Direct

ICICI Direct has buy call on IDFC First Bank with a target price of Rs 60. The current market price of IDFC First Bank Ltd. is Rs 47.9. Time period given by analyst is one year when IDFC First Bank Ltd. price can reach defined target.

IDFC First Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 29849.19 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-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 4830.14 Crore, down -2.18 % from last quarter Total Income of Rs 4938.03 Crore and up 18.35 % from last year same quarter Total Income of Rs 4081.34 Crore. The bank reported net profit after tax of Rs 110.95 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 36.52 per cent stake in the company as of 30-Sep-2021, while FIIs owned 20.68 per cent, DIIs 4.26 per cent.