IDBI bank surges by 2%; government infuses Rs.2,229 crore

The company said that the government has infused Rs.2,229 crore into the bank in lieu of preferential allotment of shares.

IDBI Bank is up 2% at Rs.92 after the company said that the government has infused Rs.2,229 crore into the bank in lieu of preferential allotment of shares.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 95.7 on 03-Dec-2015 and a 52 week low of Rs. 52.45 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 91.4 and Rs. 87.05 respectively.

The promoters holding in the company stood at 76.5 % while Institutions and Non-Institutions held 13.88 % and 9.63 % respectively.

The stock is currently trading below its 50 DMA.