Reserve Bank of India (RBI) rules allow banks to hold up to 50% stakes in insurers and on a selective basis equity holdings can be higher but must eventually be brought down within a certain period

IDBI Bank's Video KYC Account Opening (VAO) facility is a completely contactless and paperless mode of on-boarding the customer and tailor made for the demands of post pandemic world

Apart from HDFC duo, Tata Consultancy Services, Infosys, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance were other gainers; RIL, Hindustan Unilever and Bharti Airtel saw erosion in their market valuation

IDBI Bank share rose 4.34% to Rs 32.45 against previous close of Rs 31.10  on BSE

Stocks to watch today on January 1: Antony Waste Handling Cell, Future Enterprises, RIL, M&M, IDBI Bank among others are the top stocks to watch out for in Friday's trading session

Shares of IDBI Bank gained as much as 4.89 per cent in opening deal to hit a record high of Rs 41.75 against previous closing price of Rs 39.80 on the BSE

Stocks to watch today on June 29: HDFC Bank, Piramal Enterprises, Axis Bank, IDBI Bank, Bajaj Auto, Vadilal, Adani Transmission among others are the top stocks to watch out for in Monday's trading session

Post the stake sale, Ageas's stake in the insurance company will increase by 23% to 49%, while Federal Bank's stake will increase by 4% to 30%

The proposed stake hike is subject to price finalisation and all relevant regulatory approvals from the RBI and IRDAI. Currently, Federal Bank holds a 26 per cent stake in IDBI Federal Life Insurance Co

IDBI Bank sold its stake in IDBI Asset Management (IAML) and IDBI MF Trustee Company (IMTL) to Muthoot Finance