Buy IDFC First Bank; target of Rs 50: ICICI Direct

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

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26 Aug, 2025 12:21

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ICICI Direct's research report on IDFC First Bank

IDFC First Bank was formed by the merger of the erstwhile IDFC Bank and Capital First in 2018. Retailisation of its business has been the key focus. Retail and commercial funded assets form 74% of total funded assets • Branch network is at 651 as on June 2022.

Outlook

We retain our BUY rating on the stock. We value IDFC First Bank at ~1.35x FY24E ABV to arrive at revised target price of Rs 50 per share.

For all recommendations report, click here

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IDFC First Bank -010822 - ic