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Shares of IDFC Bank and Capital First were up 4 per cent each, after the announcement that the merged entity — to be called IDFC First Bank — has commenced operations.
The combined entity is headed by V Vaidyanathan, founder and chairman of Capital First.
Analysts believe that the IDFC Bank stock (Capital First is merging into this), which has shed 21 per cent over the last year, has bottomed out.
“Currently trading at around its book value, I don’t see further downside for the stock,” says G Chokkalingam, founder of Equinomics Research.
The question, however,
The combined entity is headed by V Vaidyanathan, founder and chairman of Capital First.
Analysts believe that the IDFC Bank stock (Capital First is merging into this), which has shed 21 per cent over the last year, has bottomed out.
“Currently trading at around its book value, I don’t see further downside for the stock,” says G Chokkalingam, founder of Equinomics Research.
The question, however,
