Shares of private sector lender — IDFC First Bank — rallied over 5% in intraday trade on Tuesday, July 1, following a rating and target price upgrade by brokerage Investec. With this, IDFC First Bank share price was up for the third day in a row, rising over 7% during this period.

According to media reports, brokerage Investec has upgraded IDFC First Bank stock to ‘Buy’ while assigning a new target price of ₹90 (from ₹65 previously), suggesting a 24% upside from its last closing price of ₹72.82 on the BSE.