IDFC First Bank Drops 2.24%, Trades at ₹64.60 Amid Market Caution
IDFC First Bank share price declined over 2% in early trade on April 28, slipping to ₹64.60 on the NSE.
Key Highlights:
IDFC First Bank Share Price Falls 2.24% to ₹64.60 in Early Trade
IDFC First Bank share price opened weak on April 28, falling by ₹1.48 or 2.24%, and was last seen trading at ₹64.60 on the NSE. The drop reflects cautious investor sentiment in the banking sector ahead of quarterly earnings.
Trading Metrics and Key Data
- Previous Close: ₹66.08
- Opening Price: ₹63.52
- Day’s High/Low: ₹64.71 / ₹63.11
- Market Cap: ₹47,430 crore
- P/E Ratio: 24.23
The stock has been under slight pressure this week due to volatility in mid-cap financials and concerns over net interest margin compression.
Sectoral Pressures and Earnings Outlook
While IDFC First Bank has demonstrated steady growth in retail lending and digital infrastructure, today’s decline is largely attributed to:
- Earnings caution as Q4 FY25 results approach
- Broader weakness in financial stocks
- Profit-booking after last week’s rally
Analysts believe the stock may continue to face resistance at the ₹66–₹68 range unless results surprise positively.
Analyst Opinions
- Motilal Oswal retains “Neutral”, awaits Q4 clarity
- HDFC Securities flags ₹62 as strong support level
- Jefferies notes long-term potential in retail-heavy strategy but cites short-term risk
What This Means for You
Retail and short-term traders should observe price action near the ₹63–₹64 zone. A break below this level may invite further downside, while stability above ₹66 could signal a rebound. Investors awaiting clarity on the bank’s NPA and margin trajectory may prefer to wait for the earnings call.
What Lies Ahead
IDFC First Bank is expected to report results within the coming week. Investors will be keen to hear management’s commentary on credit growth, provisioning, and digital banking expansion. These factors will likely determine the stock’s near-term trajectory in the ₹60–₹70 range.
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