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India`s IDFC Bank looks to raise 20 billion rupees in fiscal 2024 India's IDFC First Bank is looking to raise 20 billion rupees ($243.84 million) in equity capital in the second half of the current financial year, a source familiar with the matter said. The fund raise follows a reverse merger between parent IDFC Ltd and IDFC First Bank announced earlier this month. IDFC First Bank has board approval to raise 40 billion rupees. It has already raised close to half that amount through a preferential allotment to IDFC Ltd. The remaining amount of a...
India`s IDFC Bank looks to raise 20 billion rupees in fiscal 2024
India`s IDFC Bank looks to raise 20 billion rupees in fiscal 2024
Source: Reuters
20/07/2023 3:13:40 PM
IDFC Ltd, IDFC Financial Holding to merge with IDFC FIRST Bank It seems to be a merger season in the Indian banking sector. On Monday, the Board of Directors of listed IDFC FIRST Bank Ltd approved the composite scheme of amalgamation amongst IDFC Financial Holding Company Ltd, IDFC Ltd and the bank. The IDFC FIRST Bank and IDFC Ltd are listed on the bourses while IDFC Financial Holding is not. The new amalgamation comes soon after HDFC merged with HDFC Bank Ltd. The IDFC group rejig scheme is a two-step process. As per the amalgamation scheme...
IDFC Ltd, IDFC Financial Holding to merge with IDFC FIRST Bank
IDFC Ltd, IDFC Financial Holding to merge with IDFC FIRST Bank
Source: IANS
4/07/2023 10:24:08 AM
India Budget 2023: Here's what the experts say India's government will raise its capital expenditure by 33% to 10 trillion rupees ($122.29 billion) in the next fiscal year, the finance minister said on Wednesday, as Prime Minister Narendra Modi tries to create jobs ahead of a general election. Since taking office in 2014, Modi has ramped up capital spending including on roads and energy, while wooing investors through lower tax rates and labour reforms, and offering subsidies to poor households to clinch their political support. ...
India Budget 2023: Here's what the experts say
India Budget 2023: Here's what the experts say
Source: Reuters
1/02/2023 1:39:59 PM
RBI to launch first pilot for retail digital Rupee on December 01 The Reserve Bank of India (RBI) is all set to launch the first pilot for retail digital Rupee on December 01, 2022.  The pilot would cover select locations in closed user group (CUG) comprising participating customers and merchants. The retail digital Rupee would be in the form of a digital token that represents legal tender. It would be issued in the same denominations that paper currency and coins are currently issued. It would be distributed through intermediaries, i.e., banks. Use...
RBI to launch first pilot for retail digital Rupee on December 01
RBI to launch first pilot for retail digital Rupee on December 01
Source: Accord Fintech
30/11/2022 3:15:41 PM
Samvat 2079 Technical Diwali Picks By Motilal Oswal Financial   Samvat 2079 Technical Ideas   IDFC LTD (CMP 78.5) : BUY Buying Range: 78.5-76.5 Stop Loss: 70 Target: 100 (27%) • The stock is giving a breakout of the falling trend line on the monthly scale • It is forming a bullish candle on the monthly scale which indicates strong buying interest in the counter • Momentum indicators on the monthly chart is placed in the positive territory which indicates uptrend to continue • Considering the curr...
Samvat 2079 Technical Diwali Picks By Motilal Oswal Financial
Samvat 2079 Technical Diwali Picks By Motilal Oswal Financial
Source: Motilal Oswal Financial Services Ltd
20/10/2022 1:52:21 PM
Hold Idfc Ltd For Target Rs.70 - ICICI Direct Three-way merger getting closer… About the stock: IDFC Ltd is registered with RBI as NBFC - Investments. Besides banking, it also has investments in diverse businesses such as asset management, and infrastructure debt fund. * It received a license from RBI to set up a bank in 2014 * IDFC AMC has an AUM of |126335 crore  About event: IDFC Bank’s board announced a merger with two group companies * In-principle approval of merger with IDFC Ltd and IDFC Financial ...
Hold Idfc Ltd For Target Rs.70 - ICICI Direct
Hold Idfc Ltd For Target Rs.70 - ICICI Direct
Source: ICICI Direct
4/01/2022 11:38:39 AM
IDFC First Bank's Q2FY22 YoY net profit up 50% Private lender IDFC First Bank on Saturday reported a 50 per cent rise in its Q2FY22 net profit on a year-on-year basis. As per the bank, its net profit during the period under review rose to Rs 152 crore from Rs 101 crore in Q2FY21. Besides, the bank's net interest income grew by 27 per cent on a YoY basis to reach Rs 2,272 crore in Q2FY22. The net interest margin increased to 5.76 per cent in Q2FY22 as compared to 4.91 per cent in Q2FY21. Furthermore, the bank's GNPA and...
IDFC First Bank's Q2FY22 YoY net profit up 50%
IDFC First Bank's Q2FY22 YoY net profit up 50%
Source: IANS
31/10/2021 9:20:59 AM
Update On IDFC Ltd By ICICI Securities Allowed to exit bank’s promotership; holdco discount to narrow significantly IDFC Limited (IDFC) has received the much-awaited clarification from the RBI (vide its letter dated 20th July’21) which states that after the expiry of lock‐in period of 5 years (Oct ’20), it can exit as the promoter of IDFC FIRST Bank. * IDFC Ltd currently owns 100% in IDFC Financial Holding Company (IDFC FHCL – a non-operative financial holding company). * IDFC FHCL, in turn, owns 3...
Update On IDFC Ltd By ICICI Securities
Update On IDFC Ltd By ICICI Securities
Source: ICICI Securities
24/08/2021 12:45:27 PM
Mid Cap - IDFC First Bank Ltd For Target Rs. 46 - Geojit Financial Cautious on high valuation and asset quality woes IDFC First Bank, founded by the merger of erstwhile IDFC Bank and erstwhile Capital First on December 18, 2018. At present, the bank’s total number of branches stands at 601, with a total funded assets to the tune of around ~Rs.1,13,794cr. * Net Interest Income (NII) reported a growth of 25.3% on a YoY basis, and reported Net Interest Margin (NIM) improved to 5.51% in Q1FY22, compared to 5.09% in Q4FY20. * Bank is shifting its b...
Mid Cap - IDFC First Bank Ltd For Target Rs. 46 - Geojit Financial
Mid Cap - IDFC First Bank Ltd For Target Rs. 46 - Geojit Financial
Source: Geojit Financial Services
5/08/2021 9:01:04 AM
IDFC First Banks Q4 net profit up 79% IDFC First Bank on Sunday reported a 78.6 per cent increase in its net profit for the quarter ended March at Rs 127.81 crore. During the same period of FY20, the bank had reported a net profit of Rs 71.54 crore. The bank's total income during the fourth quarter of FY21 came in at Rs 4,834 crore, against Rs 4,576.12 crore. The gross non-performing asset (GNPA) of IDFC First Bank as a percentage of gross advancements was 4.15 per cent during the period under review, up from 2.60 pe...
IDFC First Banks Q4 net profit up 79%
IDFC First Banks Q4 net profit up 79%
Source: IANS
9/05/2021 1:42:07 PM
Buy IDFC First Bank Ltd For Target Rs.52 - ICICI Direct Relative high slippage; business momentum on track IDFC First posted decent Q3FY21 results with improvement in operating parameters and sequential rise in loan growth. On the asset quality front, there was little disappointment but long-term prospects remain intact. NII was up 13.7% YoY, 5.1% QoQ to | 1744 crore. NIMs expanded QoQ by 8 bps and 79 bps YoY to 4.65% despite interest reversals due to NPAs, supported by sharp rise in CASA deposits. Other income for the quarter jumped 31.1% YoY ...
Buy IDFC First Bank Ltd For Target Rs.52 - ICICI Direct
Buy IDFC First Bank Ltd For Target Rs.52 - ICICI Direct
Source: ICICI Direct
3/02/2021 11:11:48 AM