IDBI Bank Disinvestment: Govt Cites 2003 Act, Delhi HC Ruling On Stake Dilution
IDBI Bank moved lower.
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The Finance Ministry responded to media reports that questioned the legal footing for reducing the government's holding.
The analysis
Against that, the stock is -7.7% on the day at ₹83.45, and has returned -1.7% over three months. It sits 28% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -3.1% over the same period, so IDBI Bank is running 1.4 points ahead of its peers.
For IDBI Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Market context
- The company directly in focus is IDBI.
- Sector exposure: Banks.
In this story
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