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IDFC First Bank Shares Soar to 52-Week High After Motilal Oswal Upgrade
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CNBC TV18•23-09-2026, 10:50
IDFC First Bank Shares Soar to 52-Week High After Motilal Oswal Upgrade
- •IDFC First Bank shares jumped nearly 2% after Motilal Oswal upgraded its recommendation to "buy" from "neutral."
- •Motilal Oswal raised the price target to ’105 from ’90, indicating a potential 23% upside.
- •The brokerage highlighted strong balance sheet growth, with advances and deposits growing at 21% and 26% CAGR respectively over three years.
- •Motilal Oswal projects IDFC First Bank's gross and net NPAs to normalize to 1.4% and 0.4% by FY28.
- •The bank's Q1 net profit more than doubled to ’1,075 crore, with NII increasing 21.1% to ’5,972.3 crore.
Key Questions Answered
Motilal Oswal upgraded IDFC First Bank to a "buy" rating from "neutral" and raised its price target to ₹105 from ₹90 previously.
The brokerage estimates that FCNR(B) mobilization and improving opex intensity will provide a 4.1% to 6.8% boost to the bank's FY27 earnings.
Motilal Oswal projected that IDFC First Bank's gross and net non-performing assets will normalize to 1.4% and 0.4% respectively by financial year 2028.
