IDFC First Bank Shares Rally 9.5% on Record Q1 Profit

IDFC First Bank shares surged 9.5% after the lender reported a record quarterly profit of ₹1,075 crore for Q1, more than doubling its previous year's performance.

The bank's strong core growth was driven by reduced operating costs and lower provisions, exceeding market expectations and boosting investor confidence.

Following the announcement, the NIFTY BANK index rose by 1%, with other banking stocks also showing positive momentum in early trading.