Private-sector lender IDFC First Bank Ltd has put up a dismal show and seen its shares tank around 26% so far this calendar year. In contrast, the Nifty Bank index is up around 8%.
The stock has been punished for a multitude of factors. Provisions have seen a linear increase from â¹528 crore in Q2FY24 to â¹1,732 crore in Q2FY25.
An even more worrying aspect is that the jump in provisions was higher in absolute terms than the increase in net interest income (NII). The bank's NII rose by â¹838 crore over this period to â¹4,788 crore in Q2FY25.
The stock slid to a new 52-week low of â¹59.30 in October and has since recovered marginally to â¹64, but remains well below its 52-week high of â¹92.45 in December 2023.
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