Stocks of IDBI closed 10.98 per cent lower at Rs 36.05, off the intra-day high of Rs 40.90.
Market sources said the counter slipped after the finance minister ruled out the passing of an ordinance to convert IDBI into a bank.
More than 10.77 lakh shares of IDBI were traded on the BSE. The negative sentiment after the bomb blasts further hit the scrip.
Stocks of IDBI had been on the upward run over the last three months on hopes that the Centre was framing a restructuring package for the financial institution.
The failure to pass a Bill repealing the IDBI Act in Parliament, has led to the fall in the scrip.
For the fourth quarter ended March 31, 2003, IDBI registered a 15 per cent rise in net profit at Rs 209 crore (Rs 182 crore), on a marginal 0.6 per cent increase in total income at Rs 1,902 crore (Rs 1,891 crore).
