Though the Union Budget failed to impress the Street, it did revive investor sentiments in some beaten down stocks, such as IDBI Bank. Following the finance minister’s proposal of selling government stake in IDBI Bank, the stock of private-sector lender rallied 17.6 per cent on Saturday before ending the day with 10 per cent gains at Rs 37.3 apiece.
What cheered investors toward IDBI Bank stock is the expectations of improvement in overall health and valuation amid a likely privatisation of the lender. However, the rally may not sustain, suggest analysts and ...
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First Published: Sun, February 02 2020. 23:08 IST
