Read more about IDBI Bank jumps 11% as Cabinet may soon consider disinvestment proposal on Business Standard. The government had planned to sell its balance stake in IDBI Bank to private, retail, and institutional investors through the stock exchange in the last financial year
Here are key stocks that are likely to sway the market today:
IDBI Bank: The bank has been taken out of PCA framework by the RBI. The bank has provided a written commitment that it would comply with the norms of minimum regulatory capital, net NPA and leverage ratio on an ongoing basis.
JSW Steel: The company posted a marginal decline of 1 per cent in its crude steel output at 13.06 lakh tonnes (LT) in February this year.
Max Healthcare: The company has raised Rs 1,200 crore via qualified institutional process.
Quick Heal Technologies: The board has approved buyback of 63.26 lakh shares for up to Rs 1,550 crore at a price of Rs 245 per share.
Why IDBI Bank share rose 17% in early trade
IDBI Bank share price opened 17.36 per cent higher at Rs 44.80 against previous close price of Rs 38.25 on strong volume after RBI removed the lender from the prompt corrective action framework
BusinessToday.In | March 12, 2021 | Updated 10:23 IST
IDBI Bank shares opens 17.36% higher at Rs 44.80
Share of IDBI Bank opened 17 per cent higher at Rs 44.80 on the Bombay Stock Exchange after Reserve Bank of India (RBI) removed the lender from the prompt corrective action framework, subject to certain conditions and continuous monitoring. The stock of IDBI Bank has rallied 54 per cent in last one month and 156 per cent from its 52-week low of Rs 17.5, touched on March 13, 2020.
Here are the top stocks that are likely to be in focus today:
BPCL, OIL, Engineers India: Bharat Petroleum Corporation Ltd (BPCL) said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore.
Quess Corp: The company announced the separation of roles of its Chairman and Managing Director. Suraj Moraje, currently Group CEO and Executive Director, will be elevated to Group CEO and Managing Director from April 1, while Ajit Isaac, currently Executive Chairman and MD, will continue in the role of Executive Chairman.
Hero MotoCorp: The two-wheeler maker, on Monday, reported a 1.45 per cent increase in total sales at 5,05,467 units in February. The company had sold 4,98,242 units in the same month of the previous year.