Sanjiv Bhasin's Top Pick, Share Price Below Rs 100: Sanjiv Bhasin, a well-known investor, believes that IDFC First Bank will do better than other midsize banks in its fourth-quarter earnings. The bank is going to announce its fourth-quarter results next week on April 27.
As of Friday at around 1:00 PM, its shares were trading at Rs 82.10 on the NSE, which is 0.61% lower than its last closing price. During today's trading session, it reached a high of Rs 82.10 and a low of Rs 80.45. In the past 52 weeks, its share price has ranged from Rs 100.70 to Rs 56 on the NSE.
IDFC First Bank Share Price Target for 2024
In a recent interview on ET NOW Swadesh, Bhasin shared, "IDFC First Bank is set to lead the Midcap Bank and Bank Nifty. The bank is gearing up to reveal its fourth-quarter results on April 27. In my opinion, among midsize banks, IDFC First Bank will deliver the strongest earnings."
The experienced investor also highlighted IDFC First Bank's significant lending to Vodafone Idea. He believes the midcap bank's shares are likely to gain from Vodafone Idea's fundraising plans, which the market hasn't fully factored in yet.
Bhasin suggests buying IDFC Bank's shares around Rs 82, with an initial target price of around Rs 90. He also mentioned that it could potentially go up to Rs 100. Bhasin advises setting a stop loss at around Rs 80."
IDFC First Bank Share Price History
IDFC First Bank is part of the S&P BSE 100 index and currently has a market capitalization of Rs 57,909.75 crore based on the current market price. After a huge surge of more than 225% from its lows in mid-June 2022 to September 2023, hitting its all-time high, the stock has been consolidating for the last seven months.
IDFC First Bank Dividend History
As of now, the private lender has not confirmed if it will announce a dividend alongside its Q4 FY24 earnings. Since 2016, IDFC First Bank has declared three dividends. The first dividend was Rs 0.25 per equity share in 2016. In July 2017 and 2018, the bank declared dividends of Rs 0.75 per equity share each. However, since then, there have been no further dividends or bonuses announced.
Here are the details:
- 23/07/2018: Final Dividend of 0.75
- 20/07/2017: Dividend of 0.75
- 19/07/2016: Dividend of 0.25
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