India's IDBI Bank hits 10-year-high on block deals

IDBI Bank

25/07/2024 07:38

** Shares of IDBI Bank  IDBI.NS  rise 2.7% to 100.1 rupees,
its highest price since July 10, 2014
    ** Almost 7.3 mln shares change hands in 11 blocks - LSEG
data
    ** 10 blocks sold between 98.30 rupees and 103.07 rupees per
share, a 0.8%-5.7% premium to Wednesday's closing price; one
block sold at a 2.5% discount - LSEG data
    ** IDBI stock had risen on Wednesday on report that stake
sale in the lender is at an advanced stage
    ** It had also climbed on Monday on strong Q1 earnings
    ** Stock up ~11% so far this week, set for largest weekly
climb since late Jan.

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))