IDBI Bank said there is no undisclosed or price sensitive information or any impending announcement, which needs to be informed to the stock exchange at this point of time.
Indian markets extended their winning streak for a fourth consecutive session as the Nifty closed near 24,086, gaining almost 100 points, while Bank Nifty surged sharply. Strength in the rupee and a decline in crude oil prices boosted investor sentiment. PSU banks led the rally, with IDBI Bank soaring 17%, while UCO Bank, Punjab National Bank, and other public-sector lenders posted strong gains. Stocks such as CarTrade, Schneider Electric Infrastructure, Trent, Bharat Dynamics, HAL, and Cochin Shipyard also advanced. Several counters, including Data Patterns, Federal Bank, and Netweb Technologies, hit fresh record highs during the session.
IDBI Bank Surges On Heavy Volumes On Hopes Privatisation On Track
In the case of IDBI Bank, the government owned 94.71 per cent stake at the end of March quarter. This included LIC's 49.24 per cent stake in the lender.
Anand Rathi said that Cello World is an established household brand with presence across houseware, tableware, writing instruments and moulded furniture.
Speaking on Business Today Television's (BTTV's) Daily Calls, the market expert shared his views on IDBI Bank Ltd and Titan Company Ltd, while also outlining stock-specific strategies investors should monitor.
Sharing his views on Union Bank of India Ltd and IDBI Bank Ltd, Nilesh Jain outlined important support and resistance levels investors should monitor.
The government is re-evaluating the disinvestment process of IDBI Bank after financial bids came in significantly below expectations. Sources indicate the bids were not scrapped but put on hold due to undervaluation, with offers reportedly nearly 60% lower than the reserve price of ₹90,000 crore. The Centre is now exploring ways to revive the sale without compromising on valuation. The IDBI Bank stake sale is a key part of the government’s divestment agenda in the financial sector, involving plans to offload around 60% stake. However, timelines remain uncertain given market conditions and the complexity of the deal.
On being asked about timelines, the official said the process remains dynamic and is likely to move forward once market uncertainties stabilise.
IDBI Bank shares fell 2.53 per cent from day's high of Rs 77.39 to day's low of Rs 75.43. The scrip was later trading 1.24 per cent lower at Rs 75.82 apiece.
Stocks like Bajaj Finance, Vedanta, L&T, Indegene, Schaeffler India, MOIL, Hindustan Zinc, HUL, Adani Ports, Syngene, Brigade and more will be in the spotlight on Thursday, April 30.




