Motilal Oswal Recommends Multibagger Bank Stock To Buy, Target Price Rs 100

Motilal Oswal Financial Services has recommended investors to buy IDFC First Bank with a target price of Rs 100 apiece. Current market price of IDFC First Bank share is Rs 87.19 per share on BSE. If you buy IDFC First Bank stock now at current market price of Rs 87.19, you can obtain potential return of 15%. Check details below:

IDFC First Bank Stock Outlook & Return: Last trading price of IDFC First Bank share is Rs 87.19 per share with intraday gain of 3.87%. Its 52-week high price is Rs 88.25 per share and 52-week low price is Rs 36.75 per share, respectively. Its market capitalisation is Rs 57,791.14 crore. The large cap bank stock offered shareholders return of 132% in last 1-year. IDFC First Bank shares jumped 50% in last 6-months only, gave return of 68% in last 2-years, and soared 226% in last 3-years.

IDFC First Bank Financial Outlook: The banking company for the quarter ended June 30, 2023 declared its consolidated total income at Rs 8,232.47 crore, up 5.32% as against its preceding quarter total income of Rs 7822.23 crore. It announced its recent quarter net profit after tax at Rs 731.51 crore.

IDFC First Bank About: IDFC Bank was created by the demerger of the infrastructure lending business of IDFC Ltd., a leading infrastructure financing company primarily on project finance and mobilisation of capital for private sector infrastructure development. IDFC Ltd. was granted an in-principle approval by the Reserve Bank of India (RBI) to set up a new bank in 2014, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal Financial Services. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.