IDFC First Bank shares climbed 3.47 per cent to hit a high of Rs 85.06 on BSE. With this, the stock is up 8 per cent return during the period. IDFC First Bank is scheduled to report its quarterly results on April 27.
Sanjiv Bhasin says: “Railway and defence stocks will do well but do not expect the type of run-up you have already seen. BEL and HAL, RVNL, IRFC have almost tripled in the last one-and-a-half years, so a little bit of caution there, do not chase a rising tide like it is now. Wait for opportunities or nibble into them with a SIP or the CPSE ETF or a mutual fund.
Warburg Pincus, through its affiliate Cloverdell Investment, was likely to sell a 1.3% stake in the private sector lender, and the floor price for the same has been set at Rs 85.7 a share.
IDFC First Bank: Capital First had originally granted CMD stock options to Vaidyanathan. Capital First merged with IDFC Bank in December 2018. These stock options were converted to IDFC FIRST Bank stock options.
IDFC First Bank: Cloverdell Investment sold more than 27.86 crore shares on BSE via block deal, amounting to a 4.2 per cent stake in IDFC First Bank. The shares were disposed at Rs 89 apiece, taking the transaction value to Rs 2,480 crore.