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    Buy IDBI Bank, target price Rs 54: Yes Securities

    Synopsis

    IDBI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 51342.72 Crore).

    IDBI Bank (1)
    Promoters held 94.71 per cent stake in the company as of 30-Sep-2021, while FIIs owned 0.11 per cent, DIIs 0.7 per cent.
    Yes Securities has buy call on IDBI Bank with a target price of Rs 54. The current market price of IDBI Bank Ltd. is Rs 47.75.

    Time period given by analyst is Intra Day when IDBI Bank Ltd. price can reach defined target.

    IDBI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 51342.72 Crore).

    IDBI Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2021.


    Financials
    For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 5059.20 Crore, down -23.29 % from last quarter Total Income of Rs 6594.86 Crore and down -12.90 % from last year same quarter Total Income of Rs 5808.43 Crore. The bank reported net profit after tax of Rs 599.58 Crore in latest quarter.

    Investment Rationale
    After losing 33 per cent from the October month’s high, the stock has formed multiple lows near 44-45. Sustenance thereafter and the appearance of a bullish candle could attract some recovery till Rs 54 zone.

    Promoter/FII Holdings
    Promoters held 94.71 per cent stake in the company as of 30-Sep-2021, while FIIs owned 0.11 per cent, DIIs 0.7 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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