Following IDFC Bank's April-June quarter earnings on Saturday, Motilal Oswal reiterated 'Buy' rating while Nuvama recommended a 'Hold' on the counter.

Overnight indexed swap (OIS) rates, the principal tool for hedging interest rate risk in India, have climbed sharply since the RBI's last policy in June and now suggest that the central bank would only lower the repo rate in August of next year as against the earlier pricing that pointed towards policy easing at the beginning of the next fiscal year.

“It is my time to hang my boots with both anticipation and hope for the future," Parekh wrote to HDFC shareholders for the last time as chairman. "While this will be my last communication to shareholders of HDFC, rest assured we now stride tall into a very exciting future of growth and prosperity."

Under the proposed merger scheme, approved by the two companies, IDFC shareholders will get 155 shares of IDFC First Bank for every 100 shares they hold

Under the proposed merger, shareholders of IDFC Ltd will get 155 shares of IDFC First Bank for every 100 shares held in the former.

Bipin Gemani, a former chief financial officer of IDFC Bank, has been appointed as the company's CFO and whole-time director with immediate effect till September 2024.

Analysts expect the spread to contract as the merger progresses. The merger is likely to be completed in 12-15 months.

“The business of Bajaj Finance remains steady. Investors like predictable growth as well. At the same time, at a CAGR level if you produce 30% growth at the end of 10 years, you are talking about 1400% growth in the business and that gives a simple average of 140%. That is what this particular company is operating with.”

According to Nuvama Alternative Research, IDFC First Bank is the top probable contender for MSCI August 2023 Standard Index inclusion. However, the stock needs to rally close to 10 percent from current levels