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IDBI Bank on Thursday entered the coveted Rs 50,000 crore market capitalisation club after its share price hit a fresh 52-week high on the BSE. The stock was locked in the upper circuit band for the seventh straight day, up 5 per cent at Rs 48.20. It has surged 51 per cent in the past two weeks on the BSE.
Following the sharp rally on the counter, the bank’s market capitalisation (market-cap) jumped to Rs 50,034 crore, higher by Rs 16,920 crore, from Rs 33,114 crore on June 18, 2020.
IDBI Bank stood at number 54th position in the overall market-cap ranking
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