IDFC First Bank share price: Sell IDFC First Bank, target price Rs 52: IIFL

IIFL has sell call on with a target price of Rs 52. The current market price of IDFC First Bank Ltd. is Rs 54.2. Time period given by analyst is Intra Day when IDFC First Bank Ltd. price can reach defined target.

IDFC First Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 33598.33 Crore).

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4834.19 Crore, down -.03 % from last quarter Total Income of Rs 4835.86 Crore and up 6.17 % from last year same quarter Total Income of Rs 4553.07 Crore. The bank reported net profit after tax of Rs 136.93 Crore in latest quarter.

Investment Rationale
Stock has given a bearish head & shoulder breakdown on the daily chart along with an addition of fresh short positions.

Promoter/FII Holdings
Promoters held 40 per cent stake in the company as of March 31, 2021, while FIIs held 11.9 per cent, DIIs 10.5 per cent and public and others 36.9 per cent.