IDFC First Bank shares: Is this a stock to buy on Monday after strong Q3 YoY growth? | Stock Market News

IDFC First Bank share: Following strong buzz in the banking space, IDFC First Bank share price witnessed strong buying on Friday ahead of the Q3FY25 business update release. IDFC First Bank shares opened downside but soon attracted buying interest among the market bulls and touched an intraday high of ₹65.84 apiece on the NSE. IDFC First Bank’s share price ended at 65.50 apiece, around 1.25 per cent higher than Thursday’s close of ₹64.68 per share.

According to stock market experts, IDFC First Bank reported robust financial growth in its business updates for the third quarter ending December 31, 2024. IDFC First Bank reported YoY growth of around 25 per cent in Q3FY25, while loans and advances surged by an impressive 21.9 per cent. They said that IDFC First Bank shares would be in focus on Monday and predicted upside movement ahead of the IDFC First Bank Q3 results in 2024.

IDFC First Bank Q3 update

Speaking on the IDFC First Bank’s Q3FY25 update, Anshul Jain, Head of Research at Lakshmishree Investment and Securities, said, “IDFC First Bank Ltd showcased robust financial growth in its business updates for the third quarter ending December 31, 2024. The bank recorded significant expansions in loans and advances, customer deposits, and CASA (Current Account Savings Account) balances, underlining its continued focus on strengthening its financial position and scaling retail banking operations.”

IDFC First Bank share price outlook

Speaking on the outlook of IDFC First Bank shares, Mahesh M Ojha, AVP — Research at Hensex Securities, said, “IDFC First Bank shares are looking positive on the technical chart. The stock has a strong base at ₹62 and can move up to ₹72 apiece soon. On breaking above ₹72, IDFC’s First Bank share price may touch ₹75 and ₹78 soon. So, IDFC First Bank shareholders are advised to hold the scrip while maintaining a stop loss at ₹62 for the targets mentioned above.”

Mahesh M Ojha suggested to fresh investors, “Fresh investors can invite momentum buying at the current market price on Monday for the near-term targets of ₹72 and ₹78, maintaining a strict stop loss at ₹62.”

IDFC First Bank Q3 YoY growth

Loans and advances surged by an impressive 21.9% year-on-year (YoY) to reach ₹2,30,947 crore as of December 31, 2024, compared to ₹1,89,475 crore a year earlier. The bank also witnessed a sequential quarterly growth of 3.7%, reflecting a consistent upward trajectory in its credit portfolio.

Customer deposits grew by 28.8% YoY, rising to ₹2,27,266 crore as of December 31, 2024, from ₹1,76,481 crore at the end of Q3 FY24. This growth underscores the bank’s ability to attract and retain depositor confidence.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.