Monday , September 20 2021

IDFC First Bank trades in green on the bourses

IDFC First Bank is currently trading at Rs. 43.60, up by 0.15 points or 0.35% from its previous closing of Rs. 43.45 on the BSE.

The scrip opened at Rs. 43.50 and has touched a high and low of Rs. 43.70 and Rs. 43.00 respectively. So far 973959 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 69.30 on 04-Mar-2021 and a 52 week low of Rs. 26.85 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 43.95 and Rs. 41.85 respectively. The current market cap of the company is Rs. 26985.93 crore.

The promoters holding in the company stood at 36.56%, while Institutions and Non-Institutions held 31.23% and 32.21% respectively.

IDFC First Bank is aiming its retail loan book to grow by 25 per cent on a long-term basis and expects the mortgage lending to account for 40 per cent of its loan book going forward. Bank’s profits before provisioning are low currently because of the DFI (development financial institution) background with higher cost of legacy liabilities, and due to the set-up cost of a new bank.

IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.

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