IDFC First bank has continued delivering good set of results as per previous management commentary. Broader market has noticed IDFC First bank now and stock has run up sharply.
However, I am expecting continued (a) good operating performance and (b) valuation expansion.
As per Q1 ppt, the current net worth is Rs 26,531 Cr and book value is Rs. 40.
So at Price / Book of ~2.1, there is room for valuation to expand.
At the same time, book value is expected to increase by 11-12% year on year.
Expecting more good times ahead.
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