UBS said IDFC First Bank trades at 1.4 times its estimated price-to-book ratio for FY27, which is a 7% discount to Axis Bank. This seems “rich” when compared to peers with better RoE profiles, UBS said.
UBS said IDFC First Bank trades at 1.4 times its estimated price-to-book ratio for FY27, which is a 7% discount to Axis Bank. This seems “rich” when compared to peers with better RoE profiles, UBS said.