IDFC said its Board approved the merger of IDFC FHCL with IDFC Limited, effective September 30, and the merger of IDFC Limited with IDFC FIRST Bank, effective October 1.
The majority shareholders of IDFC First Bank has approved the amalgamation of IDFC with the bank on May 17, 2024.
Oil and Natural Gas Corporation, Transport Corporation of India, Alembic Pharmaceuticals, Bharat Electronics, Trent, Uno Minda, IDFC, Lemon Tree Hotels, and Bharat Dynamics will also be in focus on August 26.
The market is likely to remain in positive territory amid consolidation in the coming sessions. Here are some trading ideas for the near term.
In July 2023 IDFC board of directors of IDFC FHCL, IDFC and IDFC FIRST Bank approved the proposal for amalgamation.
Key support for the Nifty was identified at 19,700, while resistance levels were observed at 19,900-20,000, providing crucial reference points for traders and investors.