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IDFC First Bank Ltd rose for a third straight session today. The stock is quoting at Rs 68.6, up 2.08% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.27% on the day, quoting at 24233. The Sensex is at 79818.04, up 0.28%. IDFC First Bank Ltd has added around 18.5% in last one month.
Meanwhile, Nifty Bank index of which IDFC First Bank Ltd is a constituent, has added around 6.91% in last one month and is currently quoting at 55647.2, down 0.66% on the day. The volume in the stock stood at 460.61 lakh shares today, compared to the daily average of 641.76 lakh shares in last one month.
The benchmark April futures contract for the stock is quoting at Rs 68.51, up 2.16% on the day. IDFC First Bank Ltd is down 17.7% in last one year as compared to a 8.17% gain in NIFTY and a 14.71% gain in the Nifty Bank index.
The PE of the stock is 25.26 based on TTM earnings ending December 24.
The Board of Directors of IDFC FIRST Bank, at its meeting held today, approved a preferential issue of equity capital (CCPS) amounting to approximately Rs 4,876 crore to Currant Sea Investments B.V., an affiliate company of global growth investor Warburg Pincus LLC and approximately Rs 2,624 crore to Platinum Invictus B 2025 RSC, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) managed by its Private Equities Department. The proposed issues are subject to shareholder and regulatory approvals.
The Bank has firmly moved into profits and is now at a pivotal stage, where our income growth is expected to consistently exceed OPEX growth, leading to improved operating leverage. We expect many businesses which are in the investment stage to turn profitable with scale.
It is great to have Warburg Pincus back and to welcome a wholly owned subsidiary of ADIA as our shareholder. We thank them both for believing in us and our future growth plans and for investing in us even under volatile global situations. We believe only by building a strong, respected franchise loved by customers and supported by strong unit economics, we will deliver sustainable long-term returns to our stakeholders.”
IDFC First Bank Ltd rose for a fifth straight session today. The stock is quoting at Rs 62.99, up 1.71% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.12% on the day, quoting at 23357.3. The Sensex is at 76769.63, up 0.05%. IDFC First Bank Ltd has added around 19.1% in last one month.
Meanwhile, Nifty Bank index of which IDFC First Bank Ltd is a constituent, has added around 9.2% in last one month and is currently quoting at 52379.5, up 0.81% on the day. The volume in the stock stood at 225.54 lakh shares today, compared to the daily average of 523.72 lakh shares in last one month.
The benchmark April futures contract for the stock is quoting at Rs 63.01, up 1.61% on the day. IDFC First Bank Ltd is down 23.74% in last one year as compared to a 6.19% gain in NIFTY and a 12.18% gain in the Nifty Bank index.
The PE of the stock is 23.29 based on TTM earnings ending December 24.
IDFC FIRST Bank offers products and services across all segments including retail, MSME, rural, startups, corporate banking, cash management, wealth management, retail deposits, government banking, working capital, trade finance, and treasury solutions.
The bank’s standalone net profit fell 52.6% to Rs 339.45 crore in Q3 FY25 as compared with Rs 715.68 crore in Q3 FY24. Total income jumped 18.4% YoY to Rs 11,122.87 crore in Q3 FY25.
The scrip advanced 1.15% to end at Rs 59.88 on Friday, 11 April 2025.