MoneyWorks4Me

IDFC advances on bourses

09 Jul 2014 Evaluate

IDFC is currently trading at Rs. 140.50, up by 3.45 points or 2.52 % from its previous closing of Rs. 137.05 on the BSE.

The scrip opened at Rs. 136.30 and has touched a high and low of Rs. 142.00 and Rs. 134.20 respectively. So far 1500342 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 147.15 on 26-May-2014 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. 144.00 and Rs. 132.30 respectively. The current market cap of the company is Rs. 21417.67 crore.

The Institutions holding in the company stood at 81.43 %, while Non-Institutions held 18.57% of the stake.

IDFC, leading integrated infrastructure finance player, has reduced the foreign shareholding limit from 52.25% to 51.50% in view of its plans to rollout banking services next year. The company has passed resolutions at the Board of Directors' level and a special resolution by the shareholders, agreeing for decreasing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs)/ Registered Foreign Portfolios Investors (RFPIs).

Meanwhile, Reserve Bank of India (RBI) has notified that FIIs/RFPIs, through primary market and stock exchanges, can now purchase up to 51.50% of the paid up capital of IDFC under Portfolio Investment Scheme (PIS) subject to the Regulation 5(2) of FEMA Notification No.20 dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by RBI. Further, the RBI notified that IDFC will remain included in the ban list for FIIs/RFPIs.

IDFC is the country’s leading integrated infrastructure finance player providing end to end infrastructure financing and project implementation services.

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