IDBI Bank Q4 earnings: The banking stock rose 4.25% to Rs 93.21 on Monday against the previous close of Rs 89.41 on BSE. Market cap of the lender stood at Rs 97,879 crore
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 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.
IDBI Bank share price: On the earnings front, IDBI Bank reported a 60 per cent growth in net profit to Rs 927 crore in the third quarter that ended on December 31, 2022, against a profit of Rs 578 crore in the same period a year ago. The bank's net interest income (NII) improved by 23 per cent in Q3 FY23 to Rs 2,925 crore over Rs 2,383 crore recorded in the year-ago period.