Dear Readers, today we will analyze Idfc first bank through the technical as well as the fundamental lens of an investor as well as a trader. Also, we would explore the idfc first bank share price target from 2023 to 2030.
Idfc first bank
IDFC first bank is in the business of providing banking services in India. The merger of Erstwhile IDFC first bank and Erstwhile Capital First led to the formation of IDFC bank.
Idfc first bank is headed by CEO Mr. V. Vaidyanathan, who is a specialist and well-known for turning around banks.
Idfc first bank has more than 240 asset service centres, 800 branches, and more than 900 ATMs across India.
Table of Contents
Fundamental Analysis
NSE symbol: IDFCFIRSTB
BSE symbol: 539437
Let’s have a look at the market cap, ROCE, ROE etc. data of Idfc first bank.
| Market cap(in cr) | Cmp(in Rs) | ROCE | ROE | P/E |
| 64199 | 95.5 | 6.50% | 10.20% | 23 |
The market cap of Idfc first bank is Rs 64199 cr. and Price to equity ratio is 23.
The bank has delivered an ROCE(Return on capital employed) of 6.5% and an ROE (Return on equity) of 10.2 % over the last three years.
The current market price of Idfc first bank share is Rs 95.5.
Shareholding Pattern
| Shareholding | ||||
| Sep’20 | June’21 | June’22 | June’23 | |
| Promoters | 40.00% | 36.00% | 36.40% | 39.90% |
| FIIs | 11.00% | 15.00% | 10.90% | 20.80% |
| DIIs | 11.00% | 11.50% | 10.10% | 7.70% |
| Government | 4.60% | 4.21% | 4.10% | 3.90% |
| Public | 33.00% | 32.00% | 38.10% | 27.50% |
The above table shows the shareholding pattern of Idfc first bank. The holding of promoters has been almost constant over the last three years.
The positive sign is that the shareholding of FIIs has jumped over 90% over the last three years.
Public holding ( small retailers ) holding has decreased from 33% to 27.5 % over the last three years.
To learn more about the fundamentals, you may check the following link:
https://www.screener.in/company/IDFCFIRSTB/
Technical Analysis
Technical Analysis is based on the weekly and monthly charts of price action over time of the share price of Idfc first bank.
The 52-week high of the share price of Idfc first bank is Rs 101and the 52-week low is Rs 49.
Monthly Chart of Idfc first bank share price
Let’s analyze the monthly chart of the share price of IDFC First Bank :
Idfc first bank shares were listed on exchanges at a price of Rs 73.4 and rose to the level of Rs 83.4 in the subsequent months as indicated in the chart above.
However, the price could not sustain these levels and it started to slide down.
Idfc first bank share price touched a low of Rs 17.65 in the month of March’2020, i.e., during the Covid times when the market sell-off was brutal on every company’s shares.
Idfc first bank share price then consolidated for almost 10 months before giving a breakout at the start of 2021 at a price of Rs 47.2.
The price movement gave a second breakout at Rs 56.85 and it made a high of Rs 66.85. However, as the chart shows, the breakout was false and the Idfc first bank share price slid down to Rs 31.45 by June’2022.
After this, the stock again started the upward movement and gave a confirmed breakout at Rs 69.3 levels and it hasn’t looked back since then.
The stock has now crossed the multi-year breakout of Rs 73.4 and now this will act as a support.
Weekly chart analysis of Idfc first bank share price
Let’s look at the price movement of Idfc first bank share from a shorter time frame lens.
The Idfc first bank share price on 1st March’21 and on 1st Sep’23 is at the same level of Rs 69.3.
The stock tried to break out of the trendline(light purple in color) at two junctures- first at Rs 62 and then a few weeks later at Rs 52.7 but it failed both times.
The Idfc first bank share price gave a breakout in the month of August’2022 at the price of Rs 44.2 and it reached a high of Rs 64.3. Thereafter the stock price again went into consolidation.
The next breakout was at the price of Rs 65.85 in the month of May’23 and this propelled the Idfc first bank share price to new heights of Rs 101, which is an all-time high level.
The stock is constantly above the 20 ema and 50 ema (as seen in the charts) which act as a good support for the stock.
The ADX/DMI(black and green/red lines at the bottom) is also rising which is positive for the price movement.
The Idfc first bank share price is set to scale further heights in the coming years.
Idfc first bank share price target 2030
The following table and picture show where we may expect the share price of Idfc first Bank in the coming years
| Year | Target |
| 2023 | 120 |
| 2024 | 100 |
| 2025 | 150 |
| 2026 | 110 |
| 2027 | 170 |
| 2028 | 230 |
| 2029 | 285 |
| 2030 | 325 |
Does IDFC First Bank give dividends?
IDFC First Bank does not pay dividends.
What will be Idfc first bank share price in 2023?
Idfc first bank share price in 2023 may close around Rs 120.
What is the share price of Idfc first bank in 2024?
The share price of Idfc first bank may be around Rs 100 in 2024.
What will be Idfc first bank share price in 2025?
Idfc first bank share price is expected to touch Rs 150 by 2025.
What will be Idfc first bank share price in 2026?
The stock price of Idfc first bank in 2026 may be Rs 110.
What will be Idfc first bank share price in 2027?
The share price of Idfc first bank in 2027 may be Rs 170.
What will be Idfc first bank stock price in 2028?
Idfc first bank stock price in 2028 is expected to be Rs 230.
What will be Idfc first bank stock price in 2029?
Idfc first bank stock price in 2029 may be Rs 285.
What will be Idfc first bank share price in 2030?
Idfc first bank share price in 2030 is expected to be around Rs 325.
What is IDFC first bank share price NSE?
It means the share price of share price on the National Stock Exchange, India.
Conclusion
The above blog post deep dives more into the technical analysis and less into the fundamental parameters of Idfc first bank share price.
The post is not to be considered as a buy/sell recommendation. It’s just for informational purposes.
Investment in the share market is subject to market risks and you are advised to consult your financial advisor before making the decision of investment and trading.
Readers can click on the below mentioned links to learn more: