Rudra Investment Stock Market Expert says IDBI Bank's stock gained 12 percent growth on Friday. According to the reports, the Insurance Regulatory and Development Authority (IRDAI) can allow LIC's investment in IDBI Bank. After this news, the last four consecutive trading sessions saw a break on the decline in the IDBI Bank. On the BSE, the stock rose 11.92 per cent to Rs 55.85.
IRDAI board meeting will decide
Between IRBI's regulators IRDAI board meeting on Friday, news of buying stake in IDBI is going on. In this meeting, regulators can allow LIC to buy 15% stake in IDBI Bank. After that, LIC can be allowed to buy an additional 30 per cent stake. At the same time, LIC's shareholding in the bank will be more than 40 percent.
LIC's 10.82 percent stake in IDBI Bank
According to Stock Market Expert, March 2018, LIC has 10.82 percent stake in IDBI Bank. Now the rules of the IRDAI prevents any insurer from taking over 15% stake. Therefore, it is mandatory to seek permission from IRDAI to increase the share of more than 15 percent.
Move on such a stock
On Friday, IDBI Bank's shares rose by 2.10 per cent to 50.95. In the meeting of Insurance Regulators, the possibility of LIC to increase the stake in IDBI Bank came in the stock. As a result, the share of IDBI Bank rose 11.92 per cent to Rs 55.85 in the business, which is high on Intra-Day.
IRDAI board meeting will decide
Between IRBI's regulators IRDAI board meeting on Friday, news of buying stake in IDBI is going on. In this meeting, regulators can allow LIC to buy 15% stake in IDBI Bank. After that, LIC can be allowed to buy an additional 30 per cent stake. At the same time, LIC's shareholding in the bank will be more than 40 percent.
LIC's 10.82 percent stake in IDBI Bank
According to Stock Market Expert, March 2018, LIC has 10.82 percent stake in IDBI Bank. Now the rules of the IRDAI prevents any insurer from taking over 15% stake. Therefore, it is mandatory to seek permission from IRDAI to increase the share of more than 15 percent.
Move on such a stock
On Friday, IDBI Bank's shares rose by 2.10 per cent to 50.95. In the meeting of Insurance Regulators, the possibility of LIC to increase the stake in IDBI Bank came in the stock. As a result, the share of IDBI Bank rose 11.92 per cent to Rs 55.85 in the business, which is high on Intra-Day.
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