Motilal Oswal upgrades IDFC First Bank to buy at ₹105
Business
Motilal Oswal just gave IDFC First Bank a "buy" rating, setting a target price of ₹105, which is about 23% higher than its recent close at ₹85.
This upgrade comes after the bank showed better asset quality and strong loan growth, helping its stock hit a fresh 52-week high.
Motilal Oswal projects 21% loan-growth FY26-FY28
Motilal Oswal expects IDFC First's loans to grow fast, projecting a 21% annual jump between FY26 and FY28.
The bank's retail deposits now make up 80% of its total, showing solid customer trust.
Plus, raising $3.57 billion in FCNR(B) deposits has strengthened its finances even more, leading analysts to boost their earnings forecasts for the next two years.