IDFC First Bank slides over 6% after good Q3 results, poor guidance; brokerage cuts target price
The lender's loan and advances are at a 5-year CAGR of 20.3 per cent against the current YoY growth rate of 24.5 per cent. On the other hand, its customer deposit are at a 5-year CAGR of 24.8 per cent against the current YoY growth rate of 42.8 per cent. The IDFC First stock ended the trading session on Tuesday down by 6.64 per cent, or Rs 5.82, at Rs 81.85.
The results of the company are good but the guidance for the next five years is soft. After the results, brokerage Morgan Stanley has cut the share price target for the lender. | Image: Zeebiz.com