IDBI Bank gains after divesting stake in NSE

IDBI Bank rose 2.54% to Rs 74.65 at 09:25 IST on BSE after the bank sold 6.75 lakh shares constituting 1.5% of the paid up capital of National Stock Exchange of India to TIMF Holdings.

The announcement was made after market hours yesterday, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 316.29 points, or 1.11%, to 28,823.71

On BSE, so far 1.85 lakh shares were traded in the counter compared with average daily volume of 7.54 lakh shares in the past one quarter. The stock hit a high of Rs 76.50 and a low of Rs 74.50 so far during the day. The stock hit a 52-week high of Rs 95.70 on 3 December 2015. The stock hit a 52-week low of Rs 47.40 on 12 February 2016.

The large-cap state-run bank has equity capital of Rs 2058.82 crore. Face value per share is Rs 10.

IDBI Bank's net profit rose 78.35% to Rs 241.10 crore on 4% growth in total income to Rs 8219.43 crore in Q1 June 2016 over Q1 June 2015.

The Government of India currently holds 73.98% stake in IDBI Bank (as per the shareholding pattern as on 30 June 2016).

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