Stay with IDFC Bank, advises Rajat Bose

Rajat Bose rajatkbose.com told CNBC-TV18, "I would suggest a hold in IDFC Bank. I would put it this way that you put a stop below Rs 58 and continue to hold on because even if the reverse merger were to happen for the full value unlocking, it will take quite a bit of time and IDFC, I do think that it can go up to Rs 95 to about Rs 105 but six months may not be the timeframe to fully realise its potential maybe one year or more would be required. For now, closing stop below Rs 58 and one should continue to hold on."

At 15:00 hrs IDFC Bank was quoting at Rs 63.35, up Rs 1.05, or 1.69 percent.

It has touched an intraday high of Rs 64.70 and an intraday low of Rs 62.30.