IDFC zooms on hopes of govt stimulus package

DALAL STREET SPIKES

Shares of Infrastructure Development Finance Company (IDFC) jumped 14.3 per cent to close at Rs 61.60 on expectations of a stimulus package to be announced by the government soon.

Analysts say the package would add up to Rs 75,000 crore (including use of up to $10 billion of forex reserves) for funding infra projects, lines of credit to banks and allowing NBFcs to access foreign loans. The stock made an intraday high of Rs 62.55 and a low of Rs 53.65.