IDFC First Bank surges 10%, hits 52-week high post Q2 business update

Asset quality of the loans booked during last 1 year, on a like-to-like vintage comparison basis, is performing better than prior vintage periods, indicating improvement in asset quality going forward

Shares of IDFC First Bank hit a 52-week high of Rs 54.15 as the stock surged 10 per cent on the BSE in Tuesday's intra-day trade amid heavy volumes. The stock spiked after the bank reported a strong business update for September quarter (Q2FY23).

The stock of the private sector lender surpassed its previous high of Rs 53.75, which it had touched on September 15. In the past three months, the stock price of IDFC First Bank has zoomed 60 per cent, as compared to 9 per cent rise in the S&P BSE Sensex. Till 12:49 PM, a combined