Page 3 - Idfc First Bank

After Q1FY24 results, Street positive on IDFC First Bank's growth strategy

Provisions were flat sequentially (up 55 per cent YoY) at Rs 480 crore and net profit was at Rs 770 crore (up 61 per cent YoY and down 5 per cent QoQ)

Ashok Leyland, REC: 5 Nifty 500 stocks that can slip 10% from here on

AIA Engineering and Ashok Leyland look weak on the chartk, while shares of IDFC Bank and REC look ripe for an interim correction, indicate charts.

Warburg sells 4.2% in IDFC First Bank; GQG picks up 2.6% in lender

On Friday, shares of IDFC First Bank fell by as much as 5 percent in early trading but recovered to end little changed

Warburg Pincus sells 4.2% stake in IDFC FIRST Bank for Rs 2,480 cr

Warburg Pincus on Friday divested a 4.2 per cent stake in private lender IDFC First Bank for Rs 2,480 crore through an open market transaction. US-based private equity firm Warburg Pincus offloaded the shares of IDFC First Bank through its affiliate Cloverdell Investment on the BSE. According to the bulk deal data, Cloverdell Investment sold more than 27.86 crore shares, amounting to a 4.2 per cent stake in IDFC First Bank. The shares were disposed at Rs 89 apiece, taking the aggregate transaction value to Rs 2,480.34 crore. At the end of the June quarter, Warburg Pincus through its affiliates -- Cloverdell Investment and Dayside Investment -- have a shareholding of 8.5 per cent in the private lender IDFC First Bank, shareholding data pattern with the bourse showed. Meanwhile, Rajiv Jain-backed GQG Partners acquired 17.6 crore shares or nearly 2.6 per cent stake in IDFC First Bank. The shares were purchased at the same price, taking the deal value to Rs 1,527 crore. Shares of IDF

MSCI shuffle: REC, HDFC AMC, PFC & others to receive upto $214mn inflows

IDFC First Bank, REC, PFC, Ashok Leyland, HDFC AMC, Cummins India, Astral, and Supreme Industries shares are poised to receive $152 to $214 million inflows today

IDFC First Bank gets rights for international matches in India for 3 years

The bank has acquired these rights at a cost of Rs 4.2 crore per international match

IDFC, IDFC First Bank up for 7 straight days despite market volatility

IDFC and IDFC First Bank have gained as much as 58 per cent and 69.5 per cent so far this fiscal year as against 11.8 per cent gain on the Nifty 50.

REC, Supreme stocks surge on MSCI Global Standard Indexes inclusion

The other inclusions - IDFC First Bank, PFC, Ashok Leyland, Cummins India, Astral and HDFC AMC - were on the expected lines. ACC was the only exclusion

MSCI Global Standard Index review: PFC, REC among 8 entrants; ACC excluded

According to a Nuvama Alternative and Quantitative Research, PFC and HDFC AMC are likely to see inflows of $203 million and $153 million, respectively

Bajaj Auto, Hindalco: 5 stocks that you can buy now for the long-term

Bajaj-Auto, HIndalco, Dr. Reddy's Laboratories, NTPC, and IDFC First Bank may rally up to 15 per cent, show technical charts

Stocks to Watch today, July 31: Adani Green, Maruti, Power Grid, NTPC, PEL

Stocks to Watch on Monday, July 31: Adani Green, Adani Transmission, GAIL India, Go Fashion (India), and Maruti Suzuki are among top companies due to report their Q1FY24 earnings today

IDFC First Bank Q1FY24 results: Net profit rises 61% YoY at Rs 765 cr

Its net interest income grew by 36 per cent YoY from Rs 2,751 crore in Q1FY23 to Rs 3,745 crore in Q1FY24

IDFC FIRST Bank net profit increases by 61% at Rs 765 cr in June quarter

IDFC FIRST Bank on Saturday said its net profit rose by 61 per cent year-on-year to Rs 765 crore in the April-June quarter this year mainly driven by strong growth in core operating income. The bank's net profit for the April-June quarter of 2022-23 was Rs 474 crore. "Core operating profit (pre-provision operating profit excluding trading gains) grew strongly by 45 per cent Y-o-Y from Rs 987 crore in Q1-FY23 to Rs 1,427 crore for the quarter Q1-FY24," the bank said in a statement. The bank's net interest income (NII) grew 36 per cent to Rs 3,745 crore in the first quarter of the current fiscal compared to Rs 2,751 crore in the year-ago period. Its Gross NPA improved to 2.17 per cent as of June 30, 2023, from 3.36 per cent as of end-June 2022. Net NPAs of the bank improved to 0.70 per cent at end-June 2023 from 1.30 per cent at June 30, 2022. Commenting on the result, V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said, "We continue to build a strong franchise with a h

IDFC First Bank looks to raise Rs 2,000 crore in second half of FY24

IDFC First Bank has board approval to raise 40 billion rupees. It has already raised close to half that amount through a preferential allotment to IDFC Ltd

Travel credit card launched by IDFC FIRST Bank, Club Vistara, & Mastercard

The card will offer Club Vistara points, lounge benefits, annual rewards, golf benefits, and cover for cancelled flight and hotel bookings

Sensex soars 274 pts, Nifty near 19,400 as Bajaj Fin leaps 7%, Hero Moto 5%

Closing Bell on July 4, 2023: The rally was led by Bajaj Finance, Bajaj Finserv, Hero Moto, Tech M, TCS, Wipro, Sun Pharma, Kotak Bank, Infosys, Cipla, HCL Tech, SBI, HDFC twins, and ICICI Bank

IDFC surges 5%, IDFC First Bank slips 3% after board approves merger

Shareholders of IDFC Ltd will get 155 shares of IDFC First Bank for every 100 shares held in the former

Stocks to Watch on July 4: RIL, IndusInd, IDFC, Adani Transmission, DMart

Stocks to Watch today, on Tuesday: Reliance Jio, the telecom arm of Reliance Industries, has announced the launch of the internet-enabled 'JioBharat' phones, at a price of Rs 999

IDFC First Bank to merge with IDFC, makes India's largest corporate deal

The share exchange ratio will result in a premium of about 20 per cent on the closing market price of the shares of IDFC vis-a-vis IDFC First Bank as of June 30, 2023

IDFC FIRST Bank raises Rs 1,500 crore via Tier-2 bonds in domestic market

Face value of Rs 1 cr, coupon rate 8.4%; paper has a tenure of 10 years with call option at the end of five years