Q 3 Result: Bank Stock Declares 115 % PAT Growth, Motilal Oswal Sees Shares Rising, Buy
IDFC First Bank Ltd declared its Q 3 results on January 21, 2023.
The bank reported a sharp jump in its net profit which is more than doubled to Rs 605 crore in Q 3 of the current financial year.
Earlier, IDFC First Bank Ltd announced Rs 281 crore net profit in Q 3 FY 2022.
Meanwhile, Motilal Oswal has given buy call to IDFC First Bank with target price of Rs 70 apiece and potential return of 19%.
The last trading price of the stock is Rs 59.35 apiece on BSE.
Its 52- week high is Rs 64.30 apiece and 52- week low is Rs 28.95 apiece, respectively.
The company has a market capitalisation of Rs 37,014.77 crore.
2. Motilal Oswal Gives Buy Call
Meanwhile, leading brokerage firm Motilal Oswal has assigned buy rating to IDFC First Bank with a target price of Rs 70 apiece.
If you buy IDFC First Bank now, you will potentially receive 19% return.
3. About IDFC First Bank
IDFC First Bank is an Indian Private Sector Bank formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First Ltd., an Indian non- bank financial institution.
The stock has been picked from the brokerage report of Motilal Oswal.
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By Renu Baliyan Goodreturns source: goodreturns.in Dailyhunt