Shares of private sector bank IDFC First Bank fell by more than 9% in early trade today. However, with the recovery in the market, this stock is also seeing improvement from the day's low levels. The company recently released its second quarter results, after which this decline is being seen in the stock. During the July-September quarter, the stock of IDFC First Bank has slipped by 73%.

In the September quarter, the bank's profit slipped from ₹ 751 crore to ₹ 200.7 crore on a year-on-year basis. The bank's net interest income i.e. NII has come down from ₹ 4,788 crore to ₹ 3,950 crore on an annual basis. The bank's provision in the second quarter was ₹ 1,732 crore. What did the management say Talking about asset quality, the bank's NPA was 1.92%. During this period, net NPA decreased from 0.68% to 0.48%. In an exclusive conversation with CNBC-Awaaz after the results, the management said that toll collection has been affected due to the government's decision on Mumbai entry toll point. The bank also said that some recovery is expected in the toll collection segment going forward. Also, the results have also been affected due to provisioning in microfinancing. The pressure on MFI is expected to reduce after the fourth quarter. The bank is also eyeing the unsecured segment. Opinion of brokerage firms after the results Brokerage firm Nuvama Institutional Equities said in its report on this stock that IDFC First Bank's MFI asset quality has declined. However, different segments of SMA have performed better than the industry. These have seen improvement on a quarterly basis. The brokerage firm has reduced the target price from ₹ 72 to ₹ 60 per share with an Add opinion on the stock. Motilal Oswal said in his report that IDFC First Bank's NIM has slipped 4 basis points on a quarterly basis. OPEX has been as per brokerage estimates. On the business front, deposits continue to be strong. CASA has also shown improvement. Advance growth is also strong. Retail, SME and corporate finance have also shown improvement. This brokerage firm has set a target price of ₹ 73 per share with a Neutral opinion on the stock.