Motilal Oswal recommends buy on IDFC First Bank, ₹100 target
Business
Motilal Oswal is recommending people buy IDFC First Bank shares, with a target price of ₹100.
The bank just reported a huge 197% jump in profit after tax, hitting ₹1,040 crore for Q2 FY27.
Even with a small dip from last quarter, net interest income still climbed 21% year-over-year to ₹6,180 crore.
Motilal Oswal retains buy, RoA 1.0%
The bank's profit slipped 3% compared with the previous quarter, and net interest margin dropped to 5.58%, mainly due to shifts in foreign currency loans and changing liquidity.
Still, Motilal Oswal sees promise here, predicting return on assets around 1.0% and return on equity at 9.2% for FY27, so it's sticking with its buy rating and signaling confidence in the bank's growth ahead.