Clouded outlook suggests waiting on IDFC First Bank despite sharp correction

In the case of IDFC First Bank, the price-book (P/B) multiple inched up gradually to nearly two over the past three years from around one, aided by improving asset quality. In addition, the mid-tier bank also took efforts to revive its net interest margin to around 6% from under 2% seven years ago by shifting its focus on consumer lending and reducing corporate exposure. This makeover has attracted value investors over the past few years, supporting the stock price. The stock hit a 52-week high of 87 in th ...