In This large-cap company, Goldman Sachs bought 2.47 Cr shares via a block deal. The stock has delivered 86% returns in one year and 53% returns in YTD to the investors. The stock closed above the both 50-day and 200-day moving averages.
IDFC First Bank
A large-cap company, IDFC First Bank has a market capitalization of Rs. 62,255 Cr. On Tuesday shares closed 3.1% down at Rs. 93.50 on NSE. The stock closed 7.7% below the 52-week high.
According to the NSE block deal data, Vembu Vadiyanathan sold 5.07 Cr shares at Rs. 94.50, while Goldman Sachs Trust II bought 2.47 Cr shares, GQG Partners Emerging Fund bought 1.58 Cr shares, Reliance Trust Institutional Retirement Trust bought 35.19 lakh shares, Abu Dhabi Investment Authority bought 11.62 lakh shares, AustralianSuper bought 10.80 lakh shares, Washington ST Investment Board bought 6.4 lakh shares, New York State Common Retirement Fund bought 6.3 lakh shares and Active Emerging Market Equity Fund bought 7.7 lakh shares at the same price.
As per the company filing, the total revenue grew 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 of June 2023, EPS stood at Rs. 1.09.
As per the latest shareholding data, Promoters hold 39.93%, FIIs hold 20.85%, DIIs hold 11.67% and the Public hold a 27.55% stake in the company.
IDFC First Bank the bank offers small and middle-market businesses banking services and debt financing options, such as loans. The bank provides private individuals, small businesses, and corporations with a range of financial products and services.
Written by Sheshadri N
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