India's IDFC First Bank down on block deals

IDFC First Bank

07/12/2023 04:42

** Shares of IDFC First Bank  IDFB.NS  down 3% at 87.65
rupees 
    ** More than 15 mln shares of co changed hands in block
deals in the price range of 86.8 rupees and 87.7 rupees as of
9:50 a.m. IST - LSEG data 
    ** CNBC TV-18 on Wednesday reported private equity firm
Warburg Pincus to sell a 1.3% stake in IDFB through block deal
for $100 million
    ** IDFB biggest loser on the Nifty Bank Index  .NSEBANK 
which is down 0.5%
    ** Average rating of 14 analyst covering the stock is
"Hold," their median PT  is 95 rupees - ~9% higher than the
current price 
    ** Stock is up ~50% YTD vs a ~8% rise in Nifty Bank Index
    

 (Reporitng by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))