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HomeSTOCKSThis Share Will Go Up To ₹110, Brokerage Said - Buy It;...

This Share Will Go Up To ₹110, Brokerage Said – Buy It; Already Gave 55% Return

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Bank Stock to Buy: Private sector banking stock IDFC First Bank Ltd (NSE: IDFCFIRSTB) rose by more than 1 percent amid heavy selling in the domestic markets due to global tension. This creates a good opportunity to buy this bank stock. 

The world’s largest brokerage firm has advised investors to put money into IDFC First Bank. This bank share, which has shown a rise of about 55 percent in a year, may rally again.

IDFC First Bank: Share Will Go Up To ₹110

The Brokerage house has provided buying advice to IDFC First Bank. The target price for each share was set at 110 rupees. 

On April 16, the stock was settled at the level of Rs 82.70. In this way, there can be a strong rise of about 22 percent in the stock from the current price.

The Brokerage house says the company has done good work on deposit franchise, tech platform, and distribution. There were more apprehensions regarding the pace of decline in cost to income ratio (C/I ratio), credit cost, and capital requirements. 

If we look at the basis of operating expenses, we can see benefits from the turnaround of the credit card business. There is expenditure on opening new branches. 

Credit costs have increased from 1.3 percent in FY24 to 1.8 percent in FY27. Return on Assets (ROA) has increased to 1.5 percent.

IDFC First Bank: How Is The Performance In 1 Year?

In the past few years, the investors earned an average return of 55 percent on this portion of IDFC First Bank. So far this year, the stock has given a negative return of 6 percent, whereas in the last month, it has increased by more than 5 percent. 

There was a slight increase in the price of the stock on Tuesday. The stock rose by more than 1 percent during trade.

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