• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

The stock of IDBI Ltd has considerably appreciated over the past month with high volumes recorded both on the BSE and NSE. IDBI, which has 5.01 per cent stake in the finance lending institution IFCI, is likely to benefit with IFCI planning to sell 26 per cent stake to institutional investors. The IFCI stock which is currently quoting at Rs 55.40 is likely to be sold at higher levels at the time of stake sale and IDBI will benefit from the same, said market analysts. The ID BI stock touched its 52-week high today on the BSE at Rs 113.90 before closing at Rs 112.65, up 0.63 per cent. The stock has gained 8.01 per cent over the week and has moved up 17.34 per cent for the month. Market men expect continued action in the stock. On the NSE, 1,06,75,050 shares exchanged hands and the stock touched a high at Rs 114.

Incidentally, IDBI has sold 9 lakh equity shares constituting 2per cent of the issued and paid-up capital of National Stock Exchange of India to MS Strategic ( Mauritius) Ltd for an aggregate sum of $50 million

Namrata Gada

More Stories on : Stocks | Stock Markets | Ear to the ground

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Torrential rain forecast in central, north India

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line