Idfc Ltd News Today

The Reserve Bank of India (RBI) has granted approval for the reverse merger of IDFC Ltd with its banking subsidiary, IDFC First Bank. The composite scheme involves the merger of IDFC Financial Holding Company with IDFC and then the merger of IDFC into IDFC First Bank. The scheme is subject to various approvals, including from the National Company Law Tribunal and shareholders

“The Nifty index is displaying robust momentum, poised for further upside. Immediate targets on the upside for Nifty are set at 21,700/22,000. Traders and investors are advised to view any market dip as an opportune moment to initiate long positions, aligning with the prevailing bullish sentiment.”

Despite a lower passenger load factor, IndiGo managed to maintain its market share in the quarter. PLF for IndiGo remained muted for the second consecutive month at 83.6%. But IndiGo being able to maintain domestic market share despite lower PLFs indicates better aircraft/pilot availability with it versus other airlines, brokerage ICICI Securities said.

India Business News: The Competition Commission of India (CCI) has approved the merger of IDFC Ltd with IDFC FIRST Bank. The deal is subject to certain conditions, includi

The rally over the last 5 months must be looked at in the overall context that between October 2021 and June 2023, Nifty 50 was largely sideways.

Bipin Gemani, a former chief financial officer of IDFC Bank, has been appointed as the companys CFO and whole-time director with immediate effect till September 2024.

IDFC Ltd shares which closed with a gain of 6.29 per cent at Rs 109.10 has a market capitalisation of Rs 17,455 crore.

From the Sensex pack, Bajaj Finance and Bajaj Finserv were the top gainers, rising 7.3% and 4.6%, respectively. Titan, L&T, Asian Paints, Wipro, TCS, IndusInd Bank and Asian Paints also clocked gains in opening deals. On the other hand, Bharti Airtel, NTPC, Axis Bank, Tata Steel, and Kotak Bank traded with cuts.

Tube Investments arm TI Clean Mobility has entered into an agreement with Anand Jayachandran for pursuing electric small commercial vehicle business through a subsidiary to be incorporated by TI Clean Mobility.

As regards the rationale for the merger, IDFC FIRST Bank said it would lead to a simplification of the corporate structure of IDFC Financial Holding, IDFC Ltd., and IDFC FIRST Bank by consolidating them into a single entity and will help streamline the regulatory compliance of the aforesaid entities.