IDBI Bank lost 2.05% to Rs 62.20 at 11:51 IST on BSE, with the stock erasing intraday gains triggered after the bank announced sale of its 30% stake in NSDL e-Governance Infrastructure.
The bank made the announcement after market hours yesterday, 15 February 2018.Meanwhile, the S&P BSE Sensex was down 163.78 points or 0.48% at 34,133.69.
On the BSE, 2.83 lakh shares were traded on the counter so far as against average daily volumes of 6.26 lakh shares in the past one quarter. The stock was volatile. The stock had hit a high of Rs 64.70 and a low of Rs 62.20 so far during the day. The stock had hit a 52-week high of Rs 85.20 on 14 February 2017 and a 52-week low of Rs 50.25 on 14 August 2017.
The stock had outperformed the market over the past 30 days till 15 February 2018, rising 4.44% compared with 2.24% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 6.54% as against Sensex's 2.86% rise. The scrip, however, underperformed the market in past one year, sliding 21.46% as against Sensex's 21.19% rise.
The large-cap bank has equity capital of Rs 2642.49 crore. Face value per share is Rs 10.
IDBI Bank said it has sold entire 1.20 crore equity shares constituting 30% of the paid up capital of NSDL e-Governance Infrastructure (NEGIL) on 15 February 2018. NEGIL works closely with various Government agencies for designing, managing and implementing e-Governance Projects.
IDBI Bank reported net loss of Rs 1524.31 crore in Q3 December 2017, lower than net loss of Rs 2254.96 crore in Q3 December 2016. Total income declined 6.45% to Rs 6645.81 crore in Q3 December 2017 over Q3 December 2016.
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The Government of India held 77.79% stake in IDBI Bank (as on 31 December 2017).
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