Shares of IDBI Bank today surged over 10 per cent amid reports that LIC may acquire majority stake in the company.
The bank's stock zoomed 10.02 per cent to settle at Rs 54.90 on the BSE. Intra-day, it soared 11.92 per cent to Rs 55.85.
On the NSE, shares of the company jumped 10.33 per cent to close at Rs 55.
The company's market valuation surged Rs 7,566.73 crore to Rs 22,954.73 crore.
In terms of equity volume, 86.81 lakh shares of the company were traded on the BSE and over 7 crore shares changed hands on the NSE during the day.
The BSE had sought clarification from IDBI Bank earlier today with reference to news that LIC plans Rs 130-bn capital injection in the company.
Clarifying on the matter, the bank informed stock exchanges, "It is hereby informed that no such discussion has taken place in the board of the IDBI Bank."
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