Shares of IDFC Bank traded with minor cuts during the afternoon trading session on 1 September after a total of 28.1 crore shares changed hands in a block deal.

A 4.5% equity stake of the company amounting to a total of 28.1 crore shares changed hands at a price of Rs 90 per share, taking the total transaction value of the exchange at Rs 2,526 crore.

The buyers and sellers have not been identified as such.

The bank is among the eight stocks to have made their way into the MSCI Global Standard Index on 31 August, which is expected to give a boost to fund flows.

In its quarterly report for the April-June quarter, the company logged a 61.3% YoY increase in its net profit at Rs 765.16 crore.

The net interest income of the bank saw a 36% YoY growth to Rs 3,745 crore.

At 3:10 pm, the shares of IDFC Bank were trading at Rs 93.85 or 0.54% above its previous close on NSE.