IDBI Bank share price: The government would sell a 30.48 per cent and Life Insurance Corporation (LIC) would offload a 30.24 per cent stake, aggregating to 60.72 per cent of the equity share capital of IDBI Bank.
IDBI Bank stock rose 10.09 per cent in the afternoon session to Rs 44.20 against the previous close of Rs 40.15 on BSE. Market cap of the lender rose to Rs 46,826 crore.
IDBI Bank share gains 5% after lender turns profitable in FY21
Net profit in the March ended quarter stood at Rs 512 crore, up 278 per cent on a year-on-year basis and 35 per cent on a sequential basis
BusinessToday.In | May 4, 2021 | Updated 16:32 IST
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Shares of IDBI Bank rose nearly 5 per cent today after the private sector lender turned profitable after five years in last fiscal. The bank reported a net profit of Rs 1,359 crore for FY21 compared to a loss of Rs 12,887 crore in FY20.
Net profit in the March ended quarter stood at Rs 512 crore, up 278 per cent on a year-on-year basis and 35 per cent on a sequential basis.
IDBI Bank share rose 8% today on report that Union Cabinet would consider a proposal to divest the government s 45.5 percent stake in the lender. The Life Insurance Corporation of India (LIC), which holds 49.2 percent in IDBI Bank, will also be consulted