IDBI Bank Surges 18% on Renewed Divestment Optimism and Block Deals

Shares of $IDBI nk rallied sharply today, climbing as much as 19% to an intraday high of ₹91.88 on the NSE before settling around ₹91.16, up nearly 18.2% in afternoon trade. The surge propelled the stock to its highest level in three months amid heavy trading volumes triggered by large block deals. Investors cheered persistent hopes of progress in the government's long-pending strategic divestment of its stake in the lender, along with Life Insurance Corporation (LIC). The process, which has seen multiple twists over the years, remains a key focus for market participants. The move comes despite earlier setbacks in the stake sale earlier this year. Stronger quarterly performance and improved asset quality at IDBI Bank have further supported positive sentiment. Market watchers will closely track further developments on the divestment front in the coming days.