Panic Selling Hits IDBI Bank as Divestment Plan Faces Uncertainty

Shares of

witnessed sharp selling pressure on Monday, March 16, 2026, after reports suggested that the government may cancel its planned stake sale in the bank. The development triggered panic selling, resulting in a gap-down opening and heightened volatility during the session. The stock opened at ₹82.12, nearly 11% lower than the previous close of around ₹92, and slipped further to an intraday low near ₹77. Reports indicated that the government and Life Insurance Corporation of India may scrap the proposed 60.72% stake divestment, initially initiated through an Expression of Interest in October 2022. Following the news, the stock declined as much as 16.47% intraday by 11:50 AM. Notably, the counter has now extended losses for the fourth consecutive session, with cumulative declines approaching 25%, reflecting weak market sentiment. 📌 Disclaimer: This content is for information only and not investment advice. Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered advisor before making any investment decisions.