IDFC, which had closed yesterday at Rs.55.65, opened today at Rs.57.70 and went up to Rs.63, very close to its 52-week high of Rs.64.40, with a 3-times rise in volumes.

The stock price has reacted positively to IDFC Bank’s Board giving its thumbs up to the merger of IDFC Ltd with IDFC Financial Holding Co (promoter group) with the bank.

IDFC Financial Holding Company holds 36.52% stake in the bank as of September 2021, while IDFC Holds 100% stake in IDFC FHCL.