Why is IDBI Bank stock rallying today?
Investing.com -- IDBI Bank stock rose 2.4% to ₹86.12 on Tuesday after a report emerged today that India’s government is close to accepting a sweetened bid from Canada’s Fairfax Financial Holdings Ltd. for a controlling stake in the bank.
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Investing.com -- IDBI Bank stock rose 2.4% to ₹86.12 on Tuesday after a report emerged today that India’s government is close to accepting a sweetened bid from Canada’s Fairfax Financial Holdings Ltd. for a controlling stake in the bank. Business Standard reported the government is close to accepting an offer from Fairfax Financial Holdings, possibly at a slightly higher price, with Fairfax potentially raising its per-share bid by a few rupees after its original valuation was rejected for falling below the government’s reserve price. The privatisation story has been gathering momentum for some time.
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Why it matters
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- What's the story?
- Investing.com -- IDBI Bank stock rose 2.4% to ₹86.12 on Tuesday after a report emerged today that India’s government is close to accepting a sweetened bid from Canada’s Fairfax Financial Holdings Ltd. for a controlling stake in the bank.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 6m ago.
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Why is IDBI Bank stock rallying today?
Sources1TypeCoverageInvesting.com · Stock Market