News
The last 3 days, each article summarised and scored by gemini-3.5-flash-lite. 246 of 250 scored today.
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IDBI Bank shares delivered almost no returns in 20 years. Can Fairfax deal finally turn stock around? Experts weigh in
The government has approved the sale of a 60.72% stake in IDBI Bank to Fairfax Financial Holdings for approximately Rs 53,000 crore at Rs 81 per share. While this major privatization milestone could improve operational efficiency and governance, experts advise a wait-and-watch approach due to near-term technical resistance and volatility.
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IDBI Bank shares in focus as Q2 net profit falls 39%; NII tanks nearly 50% YoY
IDBI Bank reported a 39% decline in Q2 net profit due to base effects from a previous NSDL stake sale gain, though core operations showed strong year-on-year growth and improving asset quality. Additionally, the Cabinet approved Canada's Fairfax Financial Holdings as the winning bidder to acquire a 60.72% stake in the bank for Rs 52,878 crore.