In a noble gesture, Mr. V. Vaidyanathan has transferred 1,00,000 fully paid-up equity shares of IDFC FIRST Bank Limited held by him in his personal capacity to his former school teacher, Mr. Gurdial Saroop Saini, as a gift, without any consideration as a token of gratitude for his teacher's help to him at an earlier stage in his life.
It is clarified by Mr. Vaidyanathan that Mr. Saini is not a related party under Companies Act, and that the recipient will pay taxes as per applicable tax laws.
Shares of IDFC First Bank Ltd was last trading in BSE at Rs.30.4 as compared to the previous close of Rs. 29.3. The total number of shares traded during the day was 1818930 in over 22443 trades.
The stock hit an intraday high of Rs. 30.6 and intraday low of 29.35. The net turnover during the day was Rs. 54539076.