BUZZ-India's IDBI Bank gains on report of divestment process advancing
ReutersJan 16, 2025 8:31 AM
** IDBI Bank IDBI.NS rises 7.7% to 79.4 rupees
** Divestment process at IDBI progressed to next stage, with consultancy firm KPMG conducting closing due diligence, Moneycontrol reports
** Financial bids will be invited once diligence is finalised, which as per the report, may happen by March-end
** Post completion, Department Of Investment and Public Assets Management (DIPAM) will ask interested investors to furnish bids to acquire stake in the lender, being sold by the Indian government
** IDBI did not immediately respond to Reuters' request for comment
** More than 41.5 mln shares traded, 6.3x the 30-day avg
** Stock rose ~14% in 2024
(Reporting by Ashna Teresa Britto in Bengaluru)
((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Related Articles
Don't Miss Walmart's Aug 21 Earnings: $0.73 EPS Forecast, Grocery + E-Com Dual Engines – Unlimited Upside Potential?
TradingKey - Walmart's stock price has shown an overall fluctuating upward trend since the release of its first-quarter earnings report, benefiting from investors' favoritism towards Walmart as a defensive stock, as well as expectations for its stable growth in e-commerce and grocery businesses.TradingKey
Mon, Aug 18
Powell's Jackson Hole Speech: For U.S. Stocks, Hawk or Dove Signal Could Be a Lose-Lose?
TradingKey - As U.S. inflation and labor market data show signs of rebalancing, Treasury traders and Wall Street banks have largely priced in a rate cut at the September FOMC meeting — the first of 2025. Yet both a more dovish-than-expected tone and a potential surprise hawkish signal from Fed ChairTradingKey
Mon, Aug 18
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...TradingKey
Mon, Aug 18
Understanding Token Burning: Why Crypto Projects Destroy Their Own Coins
Token burning is the permanent removal of cryptocurrency from circulation, similar to stock buybacks in traditional finance. Tokens are sent to a “burn address” or “blackhole address” — wallets with no private key access — making them unrecoverable and unusable.TradingKey
Sat, Aug 16
Ethereum Price Prediction: Will ETH Extend the Rally? What’s the Future Trend?
Ethereum's impressive 2025 rally has been largely fueled by inflows from spot ETFs and a surge in institutional holdings, signaling growing confidence in its role as a core asset in the crypto market. However, to officially confirm the start of a new bull cycle, ETH must break above the critical $4,TradingKey
Wed, Jul 23
