IDBI Bank hits 52-week high, rallies 15% in four days on heavy volumes

Finance ministry on Sunday has clarified that IDBI Bank will continue to operate as an 'Indian private sector bank' after its strategic sale.

Shares of IDBI Bank hit a 52-week high of Rs 55.60 as they rallied 5 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes. The stock of private sector bank surpassed its previous high of Rs 54.75 touched on December 10, 2021. It quoted higher for the fourth straight trading day, and has surged 15 per cent during this period.

At 12:18 pm; IDBI Bank traded 3.4 per cent higher at Rs 54.95, as compared to 0.55 per cent rise in the S&P BSE Sensex. The trading volumes at the counter jumped 1.5 times, with a