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The stock of IDBI surged sharply on Thursday gaining 11.40 per cent to Rs 86.45 against the previous day's close of Rs 77.60. Trading volumes also improved to over 38.04 lakh shares against a two-week average of 35.11 lakh shares on the BSE.

According to brokers, the company's stock valuation got enhanced by virtue of its 11.73 per cent stake in IFCI. The IFCI stock has been on the rise during the last couple of days after it announced that it sold part of its holdings in the National Stock Exchange.

K.S. Badri Narayanan

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