IDBI rides high on NSE stake sale

DALAL STREET SPIKES

Industrial Development Bank of India (IDBI) advanced 5.39 per cent to Rs 118.65 on Friday, after the lender said it received $50 million against sale of its two per cent stake in the National Stock Exchange (NSE), from Morgan Stanley's Mauritius-based institutional investment firm.

The scrip opened at Rs 113.65, hit a high at Rs 119.65 and closed at Rs 118.65. It gained 10 per cent during the week and nearly 45 per cent in the last 3 months.