IDFC vaults as it gets banking licence from RBI

IDFC was up 5.5% at Rs 161.90 at 12:08 IST on BSE after the company announced that the Reserve Bank of India yesterday, 23 July 2015, granted banking licence to IDFC Bank for undertaking banking business in India.

IDFC made the announcement during trading hours today, 24 July 2015.

The stock hit high of Rs 163.50 and low of Rs 152.65 so far during the trading session. The stock had hit 52-week high of Rs 187.50 on 4 March 2015. The scrip had hit 52-week low of Rs 134.20 on 8 October 2014.

The stock rose on high volumes. On BSE, so far 27.7 lakh shares were traded in the counter as against average daily volume of 6.43 lakh shares in the past one quarter.

The large-cap company has an equity capital of Rs 1593.91 crore. Face value per share is Rs 10.

IDFC had earlier received preliminary approval from the Reserve Bank of India (RBI) to start banking operations.

IDFC's consolidated net profit jumped 48.2% to Rs 382.21 crore on 16.4% growth in total income to Rs 2583.78 crore in Q4 March 2015 over Q4 March 2014.

IDFC is scheduled to announce its Q1 June 2015 results on 30 July 2015.

IDFC is among the leading integrated infrastructure finance players providing end to end infrastructure financing and project implementation services.

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