IDFC rose 1.35% to Rs 93.90 at 12:05 IST on BSE after the company's unit, IDFC Alternatives, raised $644 million for its India-focused core infrastructure fund.
Meanwhile, the BSE Sensex was up 52.94 points, or 0.27%, to 19,856.97.
On BSE, 3.91 lakh shares were traded in the counter compared with average volume of 15.31 lakh shares in the past one quarter.
The stock hit a high of Rs 94.40 and a low of Rs 92.10 so far during the day. The stock hit a 52-week high of Rs 185.35 on 7 January 2013. The stock hit a 52-week low of Rs 76.25 on 28 August 2013.
The stock had underperformed the market over the past one month till 17 September 2013, sliding 13.17% compared with the Sensex's 6.48% rise. The scrip had also underperformed the market in past one quarter, falling 35.84% as against Sensex's 2.47% rise.
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The large-cap company has an equity capital of Rs 1516.13 crore. Face value per share is Rs 10.
IDFC's unit IDFC Alternatives on Tuesday, 17 September 2013, said it has received commitments for $644 million from investors for an India-focused infrastructure fund. IDFC's contribution to the fund, India Infrastructure Fund II, is $64 million. The balance is from investors in North America, Europe and the UK.
IDFC Alternatives manages about $2.8 billion of assets. It invests mainly across three asset classes -- infrastructure, private equity and real estate.
IDFC's consolidated net profit surged 46.7% to Rs 557.31 crore on 24.8% growth in total income to Rs 2298.57 crore in Q1 June 2013 over Q1 June 2012.
IDFC is an integrated infrastructure finance player providing end to end infrastructure financing and project implementation services. The company also offers asset management services through IDFC Mutual Fund.
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