IDBI Bank: The Government held 45 per cent stake in IDBI Bank. LIC, on the other hand, owned 49.24 per cent stake in the bank. The two have jointly decided to sell 60.7 per cent stake in the lender.
IDBI Bank recently reported its September quarter results, where it logged 59.8 per cent YoY rise in net profit at Rs 1,323.3 crore compared with Rs 828.1 crore in the same quarter last year.
IDBI Bank share price: The stock surged 9.78 per cent to hit a 52-week high of Rs 71.25 against its previous close of Rs 64.90. It eventually settled 9.09 per cent higher at Rs 70.80 on NSE. On BSE, it finished with 8.19 per cent gains at Rs 70.28. Around 58.61 lakh shares changed hands today. This was way more than the two-week average volume of 9.84 lakh shares.