IDFC strengthens on plan to start bank operations by October 2015

IDFC Ltd. - (Amalgamated) | Finance - NBFC | BFSI | BSE: 532659 | NSE: IDFC

16 Jun 2014 Evaluate

IDFC is currently trading at Rs. 128.80, up by 0.60 points or 0.47% from its previous closing of Rs. 128.20 on the BSE.

The scrip opened at Rs. 127.80 and has touched a high and low of Rs. 129.55 and Rs. 126.15 respectively. So far 429508 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 147.70 on 19-Jun-2013 and a 52 week low of Rs. 76.25 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 140.20 and Rs. 127.50 respectively. The current market cap of the company is Rs. 19567.13 crore.

The institutions and non-institutions held 82.02% and 17.98% stake in the company, respectively.

Infrastructure finance company IDFC, which recently bagged a commercial banking licence, is planning to start bank operations by October next year. IDFC and Bandhan emerged successful out of about 25 contenders for new bank licences issued by the RBI in April.

Earlier this month, IDFC decided to come out with a follow-on public offer so as to bring down foreign shareholding in the company below 50 per cent. At present, foreign ownership is about 53 per cent in the company.

Further, the company plans to come out with follow-on public offer or preferential offer by October this year.

Meanwhile, IDFC recorded 51 per cent drop in net profit at Rs. 257.94 crore in the fourth quarter ended March 31. The group's consolidated net profit was Rs. 525.70 crore in the January-March quarter of the 2012-13 fiscal.

IDFC-(Amalgamated) Share Price

108.00 0.00 (0.00%)

09-Oct-2024 16:01 View Price Chart

Peers

Company Name	CMP
Bajaj Finance	950.20
Shriram Finance	960.00
Aditya Birla Capital	348.10
Chola Invest & Fin.	1638.30
Tata Capital	328.05
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