Buy IDBI Bank, target Rs 66: Manas Jaiswal
2 August 2018: Manas Jaiswal of manasjaiswal.com has a value proposal on IDBI Bank Ltd.NSE 0.88 % with a market price of Rs 66. The recent market value of IDBI Bank Ltd. is Rs 62.15. Time period traded by the examiner is Intra Day when IDBI Bank Ltd. value can lead the set target. Manas Jaiswal suggested retaining a stop loss at Rs 60. IDBI Bank Ltd., combined in 1994, has a business cap of Rs 25986.09 crore.
IDBI Bank Ltd. key Produce/Revenue Sections cover Interest & Commission on Advances & Bills offered Rs 15693.55 Crore to Selling Value (68.15 % of Total Sales), Income From Investment which contributed Rs 5899.23 Crore to Sales Value (25.61 % of Total Sales), Interest which contributed Rs 1200.91 Crore to Sales Value (5.21 % of Total Sales) and Interest On Balances with RBI and Different Inter-Bank Funds which provided Rs 232.84 Crore to Selling Value (1.01 % of Total Sales)for the year ending 31-Mar-2018.
The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 55588.26 Crore (27.95 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 28665.14 Crore (16.69% of total assets). For the quarter ended 31-03-2018, the company has announced a Standalone Interest Income of Rs 3319.87 Crore, down -17.94 % from last quarter Interest Income of Rs 4045.57 Crore and down -30.19 % from last year same quarter Interest Income of Rs 4755.68 Crore. The bank has recorded a net profit after tax of Rs -5662.76 Crore in the latest part.