IDBI Bank stock falls on exposure to firms hit by SC coal verdict
The bank has an exposure of Rs 2,000 crore to companies affected by the court verdict on coal blocks, Reuters reported IDBI chairman and MD MS Raghavan saying.
- Sep 24, 2014,
- Updated Sep 24, 2014 4:07 PM IST
Stock of IDBI Bank fell on Wednesday after the Supreme Court cancelled 214 coal blocks allocated since 1993. The bank has an exposure of Rs 2,000 crore to companies affected by the court verdict on coal blocks, Reuters reported IDBI chairman and MD MS Raghavan saying.
The bank is assessing impact of verdict scrapping coal blocks, but think not all the loans problematic, said Raghavan.
The stock closed 5.53 per cent lower at Rs 67.50 on the BSE.
Stock of IDBI Bank fell on Wednesday after the Supreme Court cancelled 214 coal blocks allocated since 1993. The bank has an exposure of Rs 2,000 crore to companies affected by the court verdict on coal blocks, Reuters reported IDBI chairman and MD MS Raghavan saying.
The bank is assessing impact of verdict scrapping coal blocks, but think not all the loans problematic, said Raghavan.
The stock closed 5.53 per cent lower at Rs 67.50 on the BSE.