The board will consider raising funds through permissible modes including private placement, preferential issue, qualified institutional placement, further public offering, etc.
The private sector bank said its board will consider fund raising on Thursday, 18 February 2021. The board will mull fund raising by way of issue of equity shares/ other equity linked securities, through a private placement, preferential issue, qualified institutional placement, further public offering, etc., or combination thereof.The scrip lost 1.57% to Rs 53.25 on the BSE. It traded in the range of 53.05 and 54.60 so far during the day.
In the past three months, the stock has zoomed 58.16% while the benchmark Sensex has added 19.60% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 69.375. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day daily simple moving average placed at 43.65, 37.96 and 32.39, respectively.
IDFC FIRST Bank was founded by the merger of IDFC Bank and Capital First in December 2018.The bank provides a range of financial solutions to individuals, small businesses and corporates. As of 31 December 2020, the bank has 576 branches and 541 ATMs across the country.
The bank reported a net profit of Rs 130 crore in Q3 FY21 as compared to a net loss of Rs 1,639 crore in Q3 FY20. Total income during the quarter improved by 0.7% year-on-year (YoY) to Rs 4711.72 crore.
Powered by Capital Market - Live News