For Stock Cash Tips
IDBI Bank stock was higher by 5% at Rs. 70. The government is planning
to get two large institutional investors to buy stake in state-run IDBI
Bank, according to reports. Talks have been held with some players who showed
interest, as per reports.
In his budget speech last month, Finance Minister Arun Jaitley said that the
Government will consider ceding control of IDBI Bank and that it was willing to
cut stake to less than 50% from 80.2%.
The UK’s development finance institution CDC Group Plc and
US private equity firm TPG Capital are also in talks with the Government to
purchase stake in IDBI Bank, as per a financial daily.
The scrip opened at Rs. 69 and has
touched a high and low of Rs. 71.2 and Rs. 68.6 respectively. So far
525912(NSE+BSE) shares were traded on the counter. The current market cap of
the company is Rs. 12758.86 crore.
The BSE group 'A' stock of face value
Rs. 10 has touched a 52 week high of Rs. 95.7 on 03-Dec-2015 and a 52 week low
of Rs. 47.4 on 12-Feb-2016. Last one week high and low of the scrip stood at
Rs. 67.65 and Rs. 63.65 respectively.
The stock is currently trading below
its 200 DMA.
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