IDBI Bank soared 6.82% to Rs 39.95 after the bank said its board will meet on 26 March 2021 to consider the proposal of approving rupee bond borrowing limit of Rs 8000 crore for FY 2021-22.
On the technical front, the stock's RSI (relative strength index) stood at 59.832. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 32.04 and its 200-day moving average (DMA) placed at 36.40.
IDBI Bank's net profit stood at Rs 378.42 in Q3 December 2020 as against net loss of Rs 5,763.04 crore in Q3 December 2019. Total income fell 4.6% to Rs 5,932.25 in Q3 December 2020 as compared to Rs 6,215.60 crore in Q3 December 2019.
IDBI Bank offers a wide range of products from savings and current bank account to loans for retail and MSME customers or agri-loans to farmers.
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