NEW DELHI: Shares of IDBI Bank climbed over 1 per cent on Thursday after the lender informed bourses that its board has approved sale of 7 per cent of its equity held in National Securities Depository Limited ( NSDL ).The scrip ended 1.02 per cent higher at Rs 59.40 on BSE. Shares of the company opened at Rs 60 and touched a high and low of Rs 60 and Rs 58.85, respectively.IDBI Bank in a release said that its board of directors approved the sale of 27,99,999 lakh equity shares of National Securities Depository (NSDL) constituting 7 per cent of its total paid-up equity capital held by IDBI Bank.The stock had hit a 52-week high of Rs 86.50 on February 6, 2017 and 52-week low of Rs 50.25 on August 14, 2017.On the BSE, 3.07 lakh shares were traded on the counter as against average daily volumes of 3.25 lakh shares in the past two weeks.Last year, IDBI Bank sold 2 per cent stake in NSE to the country’s largest insurer LIC. The bank had sold 9 lakh equity shares constituting 2 per cent of the paid-up capital of the NSE to LIC on March 30, 2016.

Source:   Economic Times
December 07, 2017 05:37 UTC