A transaction containing at least 0.5% of the total number of a company’s listed shares is referred to as a bulk deal. On Monday this large-cap banking stock jumps upto 4% after a bulk deal. This stock has delivered 90% returns in one year to the investors and it’s currently trading above the 50-day and 200-day moving averages.
IDFC First Bank Ltd
IDFC First Bank Ltd belongs to a large-cap category, with a market capitalisation of Rs. 64,283 Cr. On Monday the stock opened at Rs. 95, at 12.25 p.m. the stocks were trading 3.9% up at Rs. 97.12 on BSE, on the same day the stock touched a new 52-week high of Rs. 98.47.
According to the BSE bulk deal data, Cloverdell Investment Ltd sold 27.8 Cr shares at Rs. 89 and Goldman Sachs Trust II-Goldman Sachs GQG Partners INTL Opportunities Fund bought 10.7 Cr shares and GQG Partners Emerging Markets Equity Fund 6.3 Cr shares at the same price.
As per the company filing, total income rose by 42 YoY from Rs. 5,777.37 Cr in Q1 FY23 to Rs. 8,232.47 Cr in Q1 FY24, and for the same period, net profit increased by 50% YoY from Rs. 485.01 Cr to Rs. 731.51 Cr.
As per the latest shareholding information, Promoters hold 39.93% FIIs hold 20.85%, DIIs hold 11.67% and the Public hold a 27.55% stake in this company.
IDFC First Bank is a commercial bank. The bank offers small and middle-market businesses banking services and debt financing options, such as loans. The bank offers a variety of financial products and services to private citizens, small enterprises, and corporations.
Written by Sheshadri N
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