The scrip closed at Rs 44.90, up 3.46 per cent on BSE while the benchmark BSE Sensex closed 1.04 per cent higher at 37,054.10.
"The bank has taken several steps as part of the strategic alliance to create a ‘one-of-its-kind’ financial conglomerate in the Indian banking space with LIC as its majority shareholder," said IDBI Bank in a ET report.
“By September 30, we plan to sell the IDBI Federal Life Insurance Company,” said Rakesh Sharma, CEO, IDBI Bank. “We have appointed JP Morgan as investment banker. Our promoter is LIC and we want to monetise our non-core assets.”
Meanwhile, the shares of IDBI Bank opened at Rs 44 on BSE against its previous closing of Rs 43.40.
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Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price