IDBI Bank Share Price Surges 13% Intraday, Stock Still Up Over 8%; What’s Driving The Rally?
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IDBI Bank shares were among the biggest movers on Wednesday, surging nearly 13% before giving up some gains. The stock remained over 8% higher as investors tracked the lender's privatisation process and upcoming Q2 results.
IDBI Bank shares surged as much as 13% on Wednesday, October 14, before giving up some of the gains, even as the broader market remained muted. The sharp intraday rally pushed the lender's market capitalisation above the ₹1 lakh crore mark and put the stock firmly on traders' radar.
IDBI Bank share price jumped to an intraday high of ₹93.62, up nearly 13% from its previous close of ₹82.94. The stock later eased to ₹89.97, but was still up ₹7.03 or around 8.5%. At the day's high, IDBI Bank had added more than ₹11,000 crore to its market value.
The rally comes as the lender's long-running privatisation process remains in focus, while investors are also positioning ahead of its September-quarter results scheduled for October 17. IDBI Bank's recent provisional Q2 business update showed double-digit growth in deposits and advances, adding to the focus on the stock ahead of its earnings.
Why Is IDBI Bank Share Price Rising Today?
There was no fresh privatisation announcement from IDBI Bank on Wednesday that directly explained the sudden surge in the stock. However, the lender has remained in focus as the government's strategic disinvestment process progresses and the market awaits the next development in the proposed stake sale.
The Centre and Life Insurance Corporation of India plan to jointly sell a 60.72% stake in IDBI Bank. The government is looking to divest 30.48%, while LIC plans to sell 30.24%.
Fairfax Financial Holdings and Emirates NBD have been competing for the stake after submitting revised financial bids. The government has been evaluating the bids as part of the strategic disinvestment process.
The sharp move also comes just days before IDBI Bank's Q2 FY27 results. The lender's board is scheduled to meet on October 17 to consider and approve the financial results for the quarter and half year ended September 30, 2026.
IDBI Bank Q2 Business Update
IDBI Bank's provisional business numbers for the September quarter showed double-digit growth across key parameters.
The lender's total business rose 18% year-on-year to ₹6.27 lakh crore, while total deposits increased 17% to ₹3.56 lakh crore.
Current account and savings account deposits rose 12% year-on-year to ₹1.56 lakh crore, while net advances increased 18% to ₹2.72 lakh crore during the quarter.
Attention will now turn to IDBI Bank's Q2 results on October 17, particularly its profitability, margins and asset-quality performance.
The stock's sharp intraday move on Wednesday comes against a 52-week range of ₹61.01 to ₹118.38. At ₹89.97, IDBI Bank shares remained around 8.5% higher for the session despite retreating from the day's high of ₹93.62.
Also Read - SEBI Extends IPO Relief Allowing 50% Change In Fresh Issue Size Until March 31, 2027
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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