Deutsche Bank has maintained sell rating on IDFC Bank and cut target price to Rs 35 from Rs 43 per share.
Deutsche Bank feel that any recovery in RoA/RoEs is still a long time away and expect subdued RoEs of 5-7% over the next 2 years.
It has cut estimates by 67%/20% for FY19/20.
A board meeting of IDFC Bank will be held on July 30, 2018 to discuss and approve, among other items, the unaudited financial results for the quarter ended June 30, 2018.
The trading window for dealing in equity shares of IDFC Bank and IDFC shall remain closed from July 20 to August 01, 2018 (both days inclusive) for all the board members and employees of IDFC Bank and their respective dependent family members.
The share touched its 52-week high Rs 70.35 and 52-week low Rs 37.65 on 12 January, 2018 and 05 June, 2018, respectively.
Currently, it is trading 45.13 percent below its 52-week high and 2.52 percent above its 52-week low
At 11:12 hrs IDFC Bank was quoting at Rs 38.60, up Rs 0.15, or 0.39 percent on the BSE.
Posted by Rakesh Patil First Published on Jul 6, 2018 11:20 am
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