IDBI Bank stock price up by more than 2% today

15 Dec 2022 , 10:54 AM

After the Department of Investment and Public Asset Management (DIPAM) on Wednesday extended the deadline to submit Expressions of Interest (EoI) for the strategic disinvestment of the Bank to January 7, 2023, from December 16, 2022, shares of IDBI Bank rose 6% on the BSE in intraday trade on Thursday in an otherwise quiet market.

The deadline for prospective bidders who have submitted their expressions of interest electronically has been moved from December 23 to January 14. Compared to the S&P BSE Sensex’s 0.84 % increase over the past month, IDBI Bank’s market price has increased by 28%. It grew 76% during the previous six months, compared to the benchmark index’s rise of only 19%.

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