IDBI Bank share price rose 3 percent intraday on December 11, a day after the board approved the sale of up to 49 percent stake in two subsidiaries.
At a meeting on December 10, the board of directors gave in-principle approval to divest the private lender’s stake in IDBI Capital Market Securities (ICMS) and IDBI Intech (IIL) while retaining controlling stake.
At 1142 hours, IDBI Bank was quoting at Rs 33.80, up Rs 0.30, or 0.90 percent, on the BSE.
The share touched its 52-week high of Rs 65.80 on January 9, 2019, and 52-week low of Rs 23.55 on August 23, 2019.
It is trading 48.63 percent below its 52-week high and 43.52 percent above its 52-week low.
The share price has fallen 44 percent in the last one year.
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