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Add IDFC First Bank Ltd For Target Rs.65 By Emkay Global Financial Services Higher contingent provisions dent earnings IDFCB reported ~73% earnings miss with PAT at Rs2bn/0.6% RoA, primarily due to higher contingent provisioning for MFI (Rs3.5bn), one-off Maharashtra toll account (Rs2.5bn), and some provisioning increase due to shoring up of specific PCR to 75% from 69% in 1Q. Excluding the additional provisions, the APAT would be Rs6.3bn. Credit growth was healthy at 23% YoY/6% QoQ, but margins contracted a bit due to softer loan yields/rising CoF. Despite higher...
Add IDFC First Bank Ltd For Target Rs.65 By Emkay Global Financial Services
Add IDFC First Bank Ltd For Target Rs.65 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-11-12 02:45:39 pm
Add IDFC First Bank Ltd For Target Rs 74 By Yes Securities Ltd Initiated with cautionary report in March 2023, IDFCB almost at report’s price target Our view – Bank has not utilised banking licence to evolve adequately Asset Quality – Slippages rose materially on sequential basis from already elevated levels, with microfinance being the key culprit: Gross NPA additions amounted to Rs 20.3bn for 2QFY25, translating to an annualized slippage ratio of 3.83% for the quarter, up by 60bps QoQ. Gross NPA additions had amounted to Rs 16.5...
Add IDFC First Bank Ltd For Target Rs 74 By Yes Securities Ltd
Add IDFC First Bank Ltd For Target Rs 74 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-10 11:50:14 am
Neutral IDFC First Bank For Target Rs.83 By Motilal Oswal Financial Services Elevated credit cost drags down earnings  Cost-to-income ratio eases marginally  *  IDFC First Bank (IDFCFB) reported a 1QFY25 PAT of INR6.8b (-11% YoY, in line) dragged down by elevated provisions.   *  NII grew 25% YoY to INR46.9b (in line), while margin contracted 13bp QoQ to 6.22%.   * Opex grew 21% YoY to INR44.3b (5% better than MOFSLe). C/I ratio thus eased to 70.2%. *  Net advances rose 21% YoY/4.1% QoQ. Deposit growth was also he...
Neutral IDFC First Bank For Target Rs.83 By Motilal Oswal Financial Services
Neutral IDFC First Bank For Target Rs.83 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-08-03 04:40:03 pm
IDFC First Bank edges higher despite reporting 12% fall in Q1 consolidated net profit IDFC First Bank is currently trading at Rs. 74.60, up by 0.09 points or 0.12% from its previous closing of Rs. 74.51 on the BSE. The scrip opened at Rs. 72.31 and has touched a high and low of Rs. 75.14 and Rs. 72.31 respectively. So far 5101491 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 100.74 on 05-Sep-2023 and a 52 week low of Rs. 70.55 on 04-Jun-2024. Last one week high and low of the scrip stood at Rs...
IDFC First Bank edges higher despite reporting 12% fall in Q1 consolidated net profit
IDFC First Bank edges higher despite reporting 12% fall in Q1 consolidated net profit
Source: Accord Fintech
2024-07-29 03:23:34 pm
Buy IDFC First Bank Ltd For Target Rs. 93 By Centrum Broking Ltd Resilient franchise amidst yearly return shortfalls IDFC First Bank (IDFCBK) reported 1QFY25 numbers with lower opex and higher provisions. NII for the quarter came in line at Rs47bn (up +25%/+5% YoY/QoQ) in line with our expectations. Other income witnessed an increase of +15%/down 4% YoY/QoQ. However, opex came in at Rs44.5bn (up +30%/5.4% YoY/QoQ) below our expectations. CTI for the quarter came in at 70.5% (down 213bps sequentially), respectively. Resultantly, PPoP came in at Rs18.5bn,...
Buy IDFC First Bank Ltd For Target Rs. 93 By Centrum Broking Ltd
Buy IDFC First Bank Ltd For Target Rs. 93 By Centrum Broking Ltd
Source: Centrum Broking Ltd
2024-07-29 03:22:19 pm
NOD for IDFC First Bank Amalgamation We are pleased to announce that the Hon’ble National Company Law Tribunal (NCLT) convened a meeting on May 17, 2024, at 4:00 p.m. IST through video conferencing and other audio-visual means to consider and approve the composite scheme of amalgamation for IDFC FIRST Bank. The meeting focused on the amalgamation of: IDFC Financial Holding Company Limited (“Transferor Company”) into and with IDFC Limited (“Transferee Company”). IDFC Limited (“Amalgamati...
NOD for IDFC First Bank Amalgamation
NOD for IDFC First Bank Amalgamation
Source: PR Agency
2024-05-20 11:39:30 am
RBI approves Mr. Pradeep Natarajan as Whole Time Director of IDFC FIRST Bank Limited The Reserve Bank of India (RBI) has approved Mr. Pradeep Natarajan's joining IDFC FIRST Bank Ltd. as Whole Time Director Mr. Natarajan will serve a three-year term in this role. This decision follows an earlier notification from the bank (letter no. IDFCFIRSTBANK/SD/231/2023-24) dated December 30, 2023. In a letter dated May 16, 2024, the RBI confirmed its approval for Mr. Natarajan's appointment, designating him as bank Executive Director for the next three years. IDFC FIRST Ba...
RBI approves Mr. Pradeep Natarajan as Whole Time Director of IDFC FIRST Bank Limited
RBI approves Mr. Pradeep Natarajan as Whole Time Director of IDFC FIRST Bank Limited
Source: PR Agency
2024-05-20 11:24:10 am
Add IDFC First Bank Ltd For Target Rs.95 - Yes Securities We reiterate our relatively cautious stance on IDFC First Bank (IDFCB), while comparing it, in detail, to 10 other key mid and smallcap private sector banks. The key pointers underpinning our view are as follows: (1) Asset quality outcomes for IDFCB across the credit cycle are indicative of IDFCB’s higher risk business model (2) While IDFCB has a high-yield loan book mix, it introduces significant risk on the balance sheet as reflected in its RWA density (3) There are a variety of aspec...
Add IDFC First Bank Ltd For Target Rs.95 - Yes Securities
Add IDFC First Bank Ltd For Target Rs.95 - Yes Securities
Source: Yes Securities Ltd.
2024-05-19 10:53:03 am
Add IDFC First Bank Ltd. For Target Rs.95 By Yes Securities Ltd. Enough reasons to reiterate cautious stance We reiterate our relatively cautious stance on IDFC First Bank (IDFCB), while comparing it, in detail, to 10 other key mid and smallcap private sector banks. The key pointers underpinning our view are as follows: (1) Asset quality outcomes for IDFCB across the credit cycle are indicative of IDFCB’s higher risk business model (2) While IDFCB has a high-yield loan book mix, it introduces significant risk on the balance sheet as reflected in i...
Add IDFC First Bank Ltd. For Target Rs.95 By Yes Securities Ltd.
Add IDFC First Bank Ltd. For Target Rs.95 By Yes Securities Ltd.
Source: Yes Securities Ltd.
2024-05-08 11:32:39 am
Buy IDFC First Bank Ltd For Target Rs. 85 - Motilal Oswal Financial Services Higher provisions dent earnings; cost ratios stay elevated Liability franchise growing steadily * IDFC First Bank (IDFCFB) reported 3QFY24 PAT of INR7.2b (up 18.4% YoY, 8% miss) due to higher provisions and opex. * NII grew 30.5% YoY, led by healthy loan growth and improvement in margins (up 10bp QoQ at 6.42%). Other income grew 31.6% YoY to INR15.2b. Opex grew 33.5% YoY to INR42.4b, resulting in a 115bp QoQ increase in the C/I ratio to 73.1%. * Loan book (incl. credit subs) grew ...
Buy IDFC First Bank Ltd For Target Rs. 85 - Motilal Oswal Financial Services
Buy IDFC First Bank Ltd For Target Rs. 85 - Motilal Oswal Financial Services
Source: motilal oswal financial services Ltd
2024-05-01 10:05:10 am
Neutral IDFC First Bank Ltd. For Target Rs.85 By Motilal Oswal Financial Services Liability franchise growing steadily -      IDFC First Bank (IDFCFB) reported 3QFY24 PAT of INR7.2b (up 18.4% YoY, 8% miss) due to higher provisions and opex. -      NII grew 30.5% YoY, led by healthy loan growth and improvement in margins (up 10bp QoQ at 6.42%). Other income grew 31.6% YoY to INR15.2b. Opex grew 33.5% YoY to INR42.4b, resulting in a 115bp QoQ increase in the C/I ratio to 73.1%. -    &nbs...
Neutral IDFC First Bank Ltd. For Target Rs.85 By Motilal Oswal Financial Services
Neutral IDFC First Bank Ltd. For Target Rs.85 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-03-27 10:47:40 am
Infibeam Avenues Ltd's Flagship Payment Brand, CCAvenue, Strengthens Payment Portfolio to Offer EMI Solutions to IDFC First Bank Infibeam Avenues Ltd, a listed fintech company, announces a strategic alliance between its flagship payment brand, CCAvenue, and IDFC First Bank. This collaboration aims to provide extensive credit card EMI solutions, further enhancing the payment experience for millions of Bank’s customers nationwide. The partnership with IDFC First Bank marks a major development for CCAvenue, reinforcing its commitment to delivering seamless and innovative payment solutions. With this collaboration...
Infibeam Avenues Ltd's Flagship Payment Brand, CCAvenue, Strengthens Payment Portfolio to Offer EMI Solutions to IDFC First Bank
Infibeam Avenues Ltd's Flagship Payment Brand, CCAvenue, Strengthens Payment Portfolio to Offer EMI Solutions to IDFC First Bank
Source: PR Agency
2024-02-06 05:17:32 pm
India bank liquidity deficit hits record high  India's banking system liquidity deficit hit a record high, data showed on Wednesday, amid outflows towards tax payments and limited government spending, with traders anticipating that the central bank will infuse more cash to address the shortfall. The deficit widened to 3.34 trillion rupees ($40.18 billion) as on Jan. 23, nearly tripling from the start of the month, data from the Reserve Bank of India (RBI) showed. "The widening in deficit is a combination of rise in ta...
India bank liquidity deficit hits record high
India bank liquidity deficit hits record high
Source: Reuters
2024-01-24 02:15:17 pm
IDFC First Bank falls despite reporting 19% rise in Q3 consolidated net profit IDFC First Bank is currently trading at Rs. 82.56, down by 5.11 points or 5.83% from its previous closing of Rs. 87.67 on the BSE. The scrip opened at Rs. 85.91 and has touched a high and low of Rs. 85.91 and Rs. 82.50 respectively. So far 3817824 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 100.74 on 05-Sep-2023 and a 52 week low of Rs. 52.11 on 28-Mar-2023. Last one week high and low of the scrip stood at ...
IDFC First Bank falls despite reporting 19% rise in Q3 consolidated net profit
IDFC First Bank falls despite reporting 19% rise in Q3 consolidated net profit
Source: Accord Fintech
2024-01-23 12:07:18 pm
IDFC First Bank registers 18% increase in Q3 net profit at Rs 716 cr IDFC First Bank on Saturday reported an 18 per cent increase in net profit to Rs 716 crore for the October-December quarter of the current financial year. The bank had posted a net profit of Rs 605 crore in the same quarter of the previous year. The bank’s Net Interest Income (NII) grew 30 per cent year-on-year from Rs 3,285 crore in Q3-FY23 to Rs. 4,287 crore in Q3- FY24. The net interest margin was 6.42 per cent during the quarter up from 6.13 per cent in the year ago period. ...
IDFC First Bank registers 18% increase in Q3 net profit at Rs 716 cr
IDFC First Bank registers 18% increase in Q3 net profit at Rs 716 cr
Source: IANS
2024-01-21 09:20:04 am
Patanjali Foods hits new 52-week high  Patanjali Foods shares are up more than 5 per cent on Tuesday to hit a new 52-week high. Patanjali Foods shares were trading at Rs 1,687, up 5.5 per cent at a new 52-week high, as per Trendlyne data. In the last one year, the stock has given a 43 per cent return. In the last one month it is up 5.3 per cent. In the last quarter it is up 34 per cent. Coforge, IDFC First Bank and Patanjali Foods saw the highest increase in stake by FPIs in the September quarter, as per a November ...
Patanjali Foods hits new 52-week high
Patanjali Foods hits new 52-week high
Source: IANS
2024-01-09 03:14:08 pm
India`s record merchandise trade deficit in October likely to be a one-off The sharp widening in India's merchandise trade deficit in October to a record level, fuelled by a broad-based rise in imports, will likely be an outlier, analysts said. India's merchandise trade deficit rose to an all-time high of $31.46 billion in October, widening sharply from the $19.37 billion print in the prior month. Imports jumped from $65 billion from $53.8 billion. "On a sequential basis, about 70% of the uptick in imports in October is led by oil, gold and silver...
India`s record merchandise trade deficit in October likely to be a one-off
India`s record merchandise trade deficit in October likely to be a one-off
Source: Reuters
2023-11-16 11:22:51 am
Neutral IDFC FIRST Bank Ltd For Target Rs.95 - Motilal Oswal Financial Services Earnings in line; margins stable at 6.3% RoA to expand gradually; downgrade to Neutral on limited upside * IDFC First Bank (IDFCFB) reported 2QFY24 PAT of INR7.5b (up 35% YoY, slight 4% miss), led by robust revenues. * NII grew 32% YoY, led by healthy loan growth and largely stable margins (down 1bp QoQ to 6.32%). * Loan book (incl. credit subs) grew 28%YoY/7% QoQ. Deposit growth was healthy at 39% YoY, with CASA mix broadly stable at 46.4%. * IDFCFB is well poised to deliver h...
Neutral IDFC FIRST Bank Ltd For Target Rs.95 - Motilal Oswal Financial Services
Neutral IDFC FIRST Bank Ltd For Target Rs.95 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2023-11-14 09:16:48 am
Add IDFC FIRST Bank Ltd For Target Rs.100 - YES Securities Ltd Asset quality and opex evolution not comforting Result Highlights (See “Our View” below for elaboration and insight) ? Asset quality: Gross slippages amounted to Rs 13.5bn, translating to an annualised slippage ratio of 3.1% ? Margin picture: NIM at 6.32% was down/up -1bp/49bps QoQ/YoY, where the negative impact in 2Q from the incremental CRR amounted to 2 bps ? Asset growth: Advances grew 6.8%/26.1% QoQ/YoY, driven sequentially by Consumer Finance and Rural Finance. ...
Add IDFC FIRST Bank Ltd For Target Rs.100 - YES Securities Ltd
Add IDFC FIRST Bank Ltd For Target Rs.100 - YES Securities Ltd
Source: Yes Securities Ltd
2023-11-06 12:34:47 pm
Buy IDFC FIRST Bank Ltd For Target Rs.98 - Emkay Global Financial Services IDFCB continues to report strong growth (25% YoY) and stable margins at 6.3%, led by better asset pricing, but lower other income and sticky operational cost (C/I ratio at 72%) caused a 7% miss on earnings estimate, with PAT at Rs7.5bn/RoA of 1.2%. Bank has recently raised capital via QIP (150bps on RWA) and should thus help contain funding cost, which would stabilize margins. However, checking run-away cost is paramount for sustaining higher RoA delivery. Also, amid rising stress in unsecure...
Buy IDFC FIRST Bank Ltd For Target Rs.98 - Emkay Global Financial Services
Buy IDFC FIRST Bank Ltd For Target Rs.98 - Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2023-10-31 04:17:24 pm
Indian banks offer incentives to lift digital currency transactions Indian banks are offering incentives for conducting transactions using the central bank digital currency, the e-rupee, nudged by the Reserve Bank of India to boost volumes, three sources said. The incentives range from cash-backs to reward points, similar to those offered by the banks on credit and debit cards, they said. The sources declined to be named as they were not authorised to speak to the media. The RBI did not respond to an email seeking comment. The RBI started a pilot pro...
Indian banks offer incentives to lift digital currency transactions
Indian banks offer incentives to lift digital currency transactions
Source: Reuters
2023-10-27 11:03:22 am
Large Indian banks preparing for maturity of Central Banks $5 billion fx swap Large Indian banks are preparing for a $5 billion forex swap maturing next week by accumulating dollars, with the trading pattern suggesting that lenders do not expect the swap to be rolled over, traders said on Wednesday.The $5 billion dollar/rupee swap that the Reserve Bank of India undertook in April 2022 will mature on Monday, meaning $5 billion can potentially be taken out of the banking system, fuelling a potential dollar shortage.In anticipation of this shortage, large banks are raisin...
Large Indian banks preparing for maturity of Central Banks $5 billion fx swap
Large Indian banks preparing for maturity of Central Banks $5 billion fx swap
Source: Reuters
2023-10-18 12:58:55 pm
CCI okays IDFC`s merger with IDFC First Bank The Competition Commission of India (CCI) has approved the proposal of Infrastructure Development Finance Company (IDFC) to merge with its banking arm IDFC First Bank."The CCI vide its letter dated October 17, 2023 has communicated that it has considered and approved the combination under Green Channel Route," IDFC said in a regulatory filing with the stock exchange.The proposal for the merger was approved by the board of directors of IDFC and IDFC First Bank on July 3.The proposed amalgamati...
CCI okays IDFC`s merger with IDFC First Bank
CCI okays IDFC`s merger with IDFC First Bank
Source: IANS
2023-10-18 10:23:40 am
Government to sell 50-year bonds for first time  The Central government for the first time will sell 50-year bonds to meet the demand for longer dated securities from the country's life insurance and pension fund segments.This comes as a major development in the country?s financial sector as a fast-growing middle-class looks for long-term financial security and retirement planning through such investments.The new 50-year bonds, revealed in the borrowing plan released by the Reserve Bank of India on Tuesday, will add to the 30-year and...
Government to sell 50-year bonds for first time
Government to sell 50-year bonds for first time
Source: Reuters
2023-09-28 09:23:00 am
Reaction to Indian bonds being included in JPMorgan index Indian domestic bonds will be included in the JPMorgan emerging market debt index from June 2024, paving the way for billions of dollars worth inflows into the world's fifth-largest economy.Here are reactions from analysts, economists and market participants:SANJAY MATHUR, CHIEF ECONOMIST, SOUTHEAST ASIA AND INDIA, ANZ, SINGAPORE:"Bond inclusion should help lower the cost of capital, at least indirectly. At the same time, we note that bond inclusion will add to volatility in Indian bonds. Thi...
Reaction to Indian bonds being included in JPMorgan index
Reaction to Indian bonds being included in JPMorgan index
Source: Reuters
2023-09-22 08:55:50am
India rupee to rise despite higher oil prices, widening trade deficit The Indian rupee is expected to open slightly higher on Monday with expectations around intervention by the central bank offsetting concerns over elevated crude oil prices and a widening trade deficit. Non-deliverable forwards indicate rupee will open at around 83.10 to the U.S. dollar compared with 83.1850 in the previous session.It will be difficult for the dollar to take out its life time high due to Reserve Bank of India's presence, said Ritesh Bhansali, director at Mecklai Financial.The ...
India rupee to rise despite higher oil prices, widening trade deficit
India rupee to rise despite higher oil prices, widening trade deficit
Source: Reuters
2023-09-18 09:14:22am