On Wednesday, the shares of IDFC Bank Limited advanced to a great extent in stock exchanges. The stock traded over 2 per cent intraday. The share price last quoted at Rs. 41.95 per share on NSE and BSE. Similarly, the shares of Capital First Limited kept its momentum at Rs. 591.40 per share, higher by 4.13 per cent through mid-noon hours of trade on bourses.

The positive circuit in their stocks is based on the merger between the companies, i.e, IDFC Bank Limited and Capital First Limited which was accomplished on Wednesday, December 18. Accordingly, the merged entity will be nicknamed IDFC First Bank.

The terms of the merger or amalgamation are such that share-holders will receive 139 shares of IDFC Bank for ten shares held in Capital First Limited.

Meantime, the Sensex gained 178 points to 36,525, and the Nifty50 advanced 70 points to 10,979 during first afternoon hours of trade.

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