IDBI shares witnessed a healthy traction on September 3 after the Union Cabinet approved a Rs 9,300-crore infusion.
A day after making a healthy gain of 8 percent, shares of IDBI Bank fell 4.51 percent on September 4 on account of profit booking.
Shares of the bank saw a healthy traction on September 3 after the cabinet approved a plan to infuse Rs 9,300 crore in IDBI to raise capital adequacy ratio.
Of the Rs 9,300 crore, LIC, which owns 51 percent stake, will pump in Rs 4,743 crore and the government of India, with 46 percent stake, will infuse Rs 4,557 crore.
On August 27, S&P Global Ratings placed 'BB' long-term and 'B' short-term foreign currency issuer credit ratings on IDBI Bank on credit watch with negative implications.