Moneycontrol
Get App
Last Updated : Sep 04, 2019 12:58 PM IST | Source: Moneycontrol.com

IDBI Bank shares lose steam, fall over 4%

IDBI shares witnessed a healthy traction on September 3 after the Union Cabinet approved a Rs 9,300-crore infusion.

Moneycontrol News @moneycontrolcom
The government said it would infuse Rs 4,557 crore into IDBI Bank
The government said it would infuse Rs 4,557 crore into IDBI Bank
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

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.

Close

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.

At 1240 hours, IDBI shares were trading 3.47 percent down at Rs 27.80 on BSE.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Sep 4, 2019 12:58 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant