IDBI Bank Share Price: Strong buying trend was seen in IDBI Bank shares today. Demand for shares increased on a big claim in a report regarding disinvestment and it jumped by about 12 percent. Some investors took advantage of this boom but it is still in a very strong position. Today on BSE it closed at Rs 79.54 with a gain of 7.88 percent. In intra-day it jumped by 11.83 percent to reach the price of Rs 82.45. This year its shares showed huge fluctuations and once it came down to Rs 65 but overall it has become green by more than 4 percent.
How far has the disinvestment work of IDBI Bank reached?
Moneycontrol learned from sources that the process of disinvestment of IDBI Bank has reached the next stage. KPMG is completing the due-diligence, that is, its due diligence is nearing completion. Once the report is ready, it will be presented before the bank’s board and then shared with buyers for bidding. After this, the Department of Investment and Public Asset Management (DIPAM) will invite bids for 60.7 percent stake of the bank. However, this is not expected to happen before March and the disinvestment work may drag into financial year 2026. Let us tell you that closing due diligence is seen as good governance.
Talking about the financial health of the bank, it will release its December quarter results on January 20, but according to the provisional data, its net advances increased by 18 percent year-on-year to Rs 2.1 lakh crore, while total deposits increased by 9 percent to Rs 2.8 lakh crore. Has reached.
How were the shares in one year?
IDBI Bank shares have made huge profits for the investors. Last year on January 13, 2024, it was at Rs 65.89, which is a one-year low for its shares. From this low level, it jumped by about 64 percent in 6 months to reach the price of Rs 107.98 on July 29, 2024, which is a one-year record high for its shares. However, the rise of shares stopped here and at present it is about 27 percent downside from this high.
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