Shares of the bank have been rising consistently with its 52-week low at Rs46.1 just a year back on September 28. Investors have turned bullish on it since then as the stock has gained nearly 70 percent since January
Shares of IDFC First Bank catapulted into India's top 10 most valued bank category by market capitalisation on Tuesday, breaching the Rs100-mark for the first time ever. Its shares hit a record high at Rs100.74 apiece during the day, with the market capitalisation standing at Rs65,849.32 crore on the BSE. The stock closed at Rs99.24, up 0.8 percent.
Topping the league table of the country’s most valued bank by market cap is still HDFC Bank followed by ICICI Bank and government-run State Bank of India at the third position. As on September 5, HDFC Bank’s current market cap stands at Rs11.92 lakh crore.