Did you just lose the opportunity to become very rich? This bank would have made you very wealthy indeed
From November 20 till today, the share price of IDFC Bank has risen by nearly 12%! That is a massive gain for a short term investor.
Even as the stock market was hit by volatility today, midcap stock IDFC Bank was performing at a whole new level. In fact, IDFC Bank became top performer on S&P BSE Midcap index, so much so, that it has jumped by nearly 9% today. At around 12:11 hours, the share price of IDFC Bank was trading at Rs 39.55 per piece up by 8.95%. The jump in IDFC Bank came in after it had announced on Tuesday, about its course of action in the deal with Capital First. Something which boosted investors faith in this bank as the deal looks set to become a reality soon. But did you know that, if you had invested in this bank when it was at massive lows, you would have been much, much richer and that too in just the last two days?
From November 20 till today, the share price of IDFC Bank has risen by nearly 12%! That is a massive gain for a short term investor. But if you had taken the opportunity to invest when IDFC Bank plunged to an all-time low of Rs 32.70 per piece on October 09, 2018, then today you would have gained a whopping near 21% returns on your investment.
On November 20, IDFC Bank stated that it has filed a Petition with the National Company Law Tribunal, Chennai Bench ('Hon'ble NCLT') on September 17, 2018 for sanction of the Scheme of Amalgamation.
This merger detail includes Capital First Limited and Capital First Home Finance Limited and Capital First Securities Limited merging with IDFC Bank Limited and their respective shareholders and creditors under Sections 230 to 232 of the Companies Act, 2013.
IDFC Bank said, “We would like to inform you that the Petition is fixed for final hearing on Wednesday, December 5, 2018 before the Hon'ble Tribunal at 10.30 a.m. or soon thereafter.”
Hence, by first week of December month, investors will have a clear view of IDFC Bank and Capital First deal.