IDFC First Bank Share Price NSE Live 25 December 2023
📈 Amidst the ongoing surge in the stock market, several shares are poised to reach new heights. One such private sector bank is IDFC First Bank, which has caught the attention of brokerage houses. Sentrum Broking has initiated coverage on IDFC First Bank shares with a buy rating. The share is expected to touch a level of Rs. 104 in the near future.
💰 IDFC First Bank shares have been recommended for purchase by brokerage firm Sentrum Broking. The target price per share has been set at Rs. 104. As of December 22, 2023, the share price closed at Rs. 88.40. This implies a potential return of approximately 18% from the current market price.
📈 So far in 2023, the bank’s shares have delivered returns of around 45%. In the past six months, the share has witnessed a steady growth of about 13-14%. This indicates a positive momentum in the stock, making it an attractive investment option.
💼 Brokerage house’s opinion: According to brokerage firms, IDFC First Bank’s market share has increased in both advances and deposits since the merger with Capital First. The bank is on a long-term growth trajectory, and the management is confident that the progress will continue to strengthen in the coming years. Furthermore, there is a possibility of a reduction in interest rates in the upcoming years, which is expected to lower the cost of funding. In the first quarter of the financial year 2023, there was a 1.60% increase in interest rates.
🚀 The IDFC First Bank shares seem to be a promising investment option with the potential for significant returns. With the positive market sentiment and the bank’s growth prospects, investors may find it worthwhile to consider buying these shares.
💼 Please note that stock market investments carry risks, and investors should conduct their own research and seek professional advice before making any investment decisions.
📈 Stay updated with the latest news and analysis on IDFC First Bank shares to make informed investment choices in the stock market.
Inspired English News ★Updated: December 25, 2023 | By Maharashtra News Network
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
