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The Economic Times

Business

Debaroti Adhikary

IDBI Bank shares rally 13%, market value swells by Rs 11,460 crore amid muted market. What lies ahead?

IDBI Bank JM Financial Fairfax Life Insurance Corporation Punjab National Bank Reserve Bank of India State Bank of India

Shares of IDBI Bank rallied nearly 13% on Wednesday, adding more than Rs 11,460 crore to its market capitalisation, bucking the overall muted market sentiment.

IDBI Bank shares jumped to Rs 93.60 apiece on NSE, the highest level seen by the stock in nearly two weeks. The company’s market capitalisation crossed the Rs 1 lakh crore mark as a result of the sharp surge in share price.

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