State insurer Life Insurance Corporation of India (LIC) has increased its shareholding in IDFC First Bank to 2.68% acquiring the lender’s shares at a price of Rs 80.63 apiece. The total cost of acquisition is Rs 1,500 crore. The number of shares have been raised from 1.42 crore to 20 crore on a preferential basis, … Read more
US-based private equity firm Warburg Pincus sold its partial stake in IDFC First Bank through block deals on Thursday. Warburg Pincus, through its affiliate Dayside Investment, offloaded 9.17 crore shares or 1.3% in the private sector lender. The transaction was done at Rs 86.1 apiece, taking the deal value to Rs 790 crore. It is … Read more
Shares of IDFC First Bank fell over 5% to the day’s low of Rs 81.45 on the NSE in the opening trade on Monday amid selling pressure in banks and financial stocks. Though the stock managed to recover from its intraday lows around 10:30 pm, it was still down by 3%. Brokerage Motilal Oswal downgraded … Read more
A steady June quarter earnings with lower provisions triggered buying action in IDFC First Bank shares on Monday as it jumped over 2% to the day’s high of Rs 85.75 on the NSE. The stock, which is at a kissing distance from its 52-week high of 86.10, saw over 2.4 crore shares changing hands around … Read more
Domestic indices extended their rally on Tuesday with Sensex closing at a record high for the fourth straight session. Sensex sailed past 65,500 and Nifty crossed the 19,400 mark during the day. Stocks that were in focus include names like Nykaa, which was down 2%, Eicher Motors, which declined 6% and IDFC First Bank, whose … Read more
Indian market closed higher on Wednesday for the fourth consecutive day. The S&P BSE Sensex pared gains but closed above 59,000 while Nifty50 reclaimed 17,500 levels. Sectorally, buying was seen in energy, FMCG, realty, oil & gas and capital goods while selling was seen in utilities, power, metals, and IT stocks. Stocks that were in … Read more
For us, this culture about having low NPA is a fetish. Our trip in life is our gross NPA should never cross 2%, our net NPA should never cross 1%. We are working to that formula, says V Vaidyanathan, MD & CEO, You kept on working towards taking IDFC or Capital First to be an … Read more
In December 2018, IDFC Bank merged with Capital First, an non-banking financial company, to form IDFC First Bank — a new bank with a retail DNA. Almost 3.5 years since the merger, the new lender has made a complete turnaround in operations on a pure retail-oriented theme with a focused strategic path. Here are some … Read more