Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  

| More

Vodafone Idea Positive development beneficial for IDFC first bank - Angel Broking

Posted On: 2020-11-19 23:36:39

Mr. Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking Ltd

"In last 3 days, there is a lot of positive news are coming for Vodafone Idea (VIL) such as (a) on completion of Bharti infratel and indus tower mega-merger, VIL receives Rs,3760cr 2) Possibility of capital infusion from a consortium led by Oaktree Capital Management for capital expenditure and debt servicing. The above news is positive for all lenders, and IDFC First bank has Rs.3244cr exposure (Funded - Rs. 2,000cr and Non-Funded - Rs. 1,244cr) which is 18% of net worth and had 50% provision on it. However, in Q2FY21 Bank has released Rs. 811cr (out of existing provisions of Rs. 1,622cr) against a VIL Exposure based on improved prospects and management commentary at the company, and utilized it to create additional COVID provisions during Q2 FY 21. If Balancesheet of VIL improves further than IDFC FIsr Bank can additionally write back remaining provision to strengthen balance sheet for future uncertainties and built additional non-specific provision which will provide comfort to an investor. In the last few quarters, IDFC first bank has been able to build liability (CASA and retail deposit) which will help them to reduce high-cost borrowing, and eventually, retail customers will increase daily cash management activity into IDFC first infrastructure. Presently IDFC first bank is trading at 1x FY22 Book value which is reasonable considering retail mix and growth in liability franchise. We have a Buy rating on IDFC First bank."

Shares of Vodafone Idea Ltd was last trading in BSE at Rs.9.27 as compared to the previous close of Rs. 9.2. The total number of shares traded during the day was 61502235 in over 56503 trades.

The stock hit an intraday high of Rs. 9.59 and intraday low of 9.04. The net turnover during the day was Rs. 574475648.

Shares of IDFC First Bank Ltd was last trading in BSE at Rs.33.35 as compared to the previous close of Rs. 34.3. The total number of shares traded during the day was 1871378 in over 23210 trades.

The stock hit an intraday high of Rs. 34.4 and intraday low of 33.05. The net turnover during the day was Rs. 63178441.

Source: Equity Bulls

Click here to send ur comments or to

Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only., its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.

Other Headlines:

Economy - MPC holds rates; policy largely non-event - ICICI Securities

Monetary Policy - Mr. Rajiv Sabharwal, MD and CEO, Tata Capital

RBI maintains status quo, realtors rely on increased demand

Cadila receives DCGI approval - Angel Broking

Maintain BUY on UltraTech Cement - Speeding on organic expansions! - HDFC Securities

HCL Technologies - Quant Pick - ICICI Direct

Teamlease Services - Gladiator Stocks - ICICI Direct

Mindtree Ltd - Analyst Meet Update - ICICI Direct

Bajaj Finserv - Company Update - Dec 2020 - ICICI Direct

RBI Monetary Policy - Dec 2020 - Views of Industry Experts

RBI Monetary Policy - Dec 2020 - Views of Shanti Ekambaram, Group President - Consumer Banking, Kotak Mahindra Bank

Views on RBI Policy: Mr. Dhiraj Relli, MD &CEO, HDFC Securities

RBI monetary Policy - Dec 2020 - Angel Broking

View on RBI Monetary Policy - Dec 2020 - Mr. Amar Ambani, YES SECURITIES

Accommodative stance necessary to revive growth: Dr. Niranjan Hiranandani - President at ASSOCHAM & Chairman Hiranandani Group

Views on RBI Monetary Policy - Dec 2020 - Ms. Bekxy Kuriakose, Head - Fixed Income, Principal Asset Management

RBI stays put to aid in maintaining real estate sector recovery - Ramesh Nair, CEO and Country head, JLL India

Views on Dec, 2020 RBI Monetary Policy from Industry Experts

MPC - Dec 4, 2020 - Acuité Ratings & Research

Realty sector's hopes are high from RBI's MPC

Citibank issued a report on RBL Bank: Recommends 'BUY' with target price Rs. 275

Russia to adopt vaccination for Covid-19 - Angel Broking

68% of borrowers are unaware of their CIBIL score, reveals Home Credit Survey

Auto Sector - Monthly Volume Round-up - Nov 20 - Reliance Securities

What do brokerages say on Burger King India Limited's IPO?

The Phoenix Mills - Potential fund infusion may usher in growth - ICICI Securities

Godrej Agrovet - Beneficiary of 60% increase in palm oil prices - ICICI Securities

Automobiles (wholesale) - Wholesale dispatches rise amidst modest retail trends - ICICI Securities

Oil & Gas - Sector Update - Dec 2020 - ICICI Direct

Phoenix Mills (Buy): Asset monetisation at favourable terms... - ICICI Direct

Aditya Makharia's views on November Auto Sales Number for November 2020 - HDFC Securities

Burger King India - IPO Review - ICICI Direct

Quant Pick - LIC Housing Finance - ICICI Direct

Tech Mahindra - Analyst Meet Update - ICICI Direct

Gladiator Stocks - Crompton Greaves Consumer Electricals - ICICI Direct

Derivatives Monthly Outlook - Nifty support at 12800 for ongoing momentum...

Quant Pick - Sun Pharmaceuticals - ICICI Direct

Monetary Policy - Expectation from YES Securities

Sector Update on Asset Management Companies - Subdued but improvement expected - HDFC Securities

Pre Monetary Policy View - Dec, 2020 - Lakshmi Iyer, President and CIO (Debt) & Head Products, Kotak Mutual Fund

Maintain REDUCE on Siemens - Smart recovery priced in - HDFC Securities

Banking Sector Credit Trends - Growth continues to moderate - HDFC Securities

Q2 FY21 GDP: Light at the end of the tunnel - YES Securities

Siemens - Q4 FY20 Result Update - YES Securities

Super action in Home Loans - SBIN, ICICIBC, AXSB, HDFC and LICHF gaining share - YES Securities

Polymer price tracker - Dec 1, 2020 - PVC prices continue to tread higher - ICICI Securities

Bajaj Finance - Company Update - Dec 2020 - ICICI Direct

Siemens Ltd - Healthy revival in orders and margins - ICICI Securities

Covid Recovery Pulse - Nov 30, 2020 - Festive positivity continues in auto retails, e-way bill generation improves...

Derivatives Weekly View (November 27): Momentum expected to continue in broader markets with Nifty support at 12800...

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019