ICICI Direct Suggests Bank Stock To Buy Showing Upside Potential, Target Price Rs 64

ICICI Direct has recommended investors to buy bank stock, IDFC First Bank Ltd to buy with target price of Rs 64 apiece. Current market price of the bank is Rs 57.34 apiece. If you buy IDFC First Bank share now, you can get potential return of 12%. The analyst has given a target time of 3 months when the stock will reach the target price of Rs 64 apiece. ICICI Direct has recommended investors to keep the stop loss at Rs 51 apiece. Check details below:

IDFC First Bank Stock Performance: Last trading price of IDFC First Bank is Rs 57.31 apiece with intraday gain of 0.30%. The banking stock 52-week high is Rs 64.30 apiece and 52-week low is Rs 28.95 apiece, respectively. Its market capitalisation is Rs 35,779.10 crore.

IDFC First Bank Return In Last 5 Years: The private sector bank offered a return of 12% in last 6-months, 42% in last 1-year, and 59% in last 3-years. It rallied 16% in last 5-years.

IDFC First Bank About: IDFC FIRST Bank was founded as a new entity by the merger of the two institutions on December 18, 2018. In January 2019, the combined entity listed its new shares on the NSE and BSE. IDFC FIRST Bank made a new beginning with a new Board of Directors, new management, a renewed focus and drive, a new brand logo and positioning, according to its official website.

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.