News for IDBI Bank Limited (IDBI.BO)

In January, mutual funds bought stocks worth Rs 575 billion in India's secondary market, with key additions in Axis Bank, HDFC Bank, and ICICI Bank. Major reductions were seen in Reliance Industries, ITC, and Bharat Electronics. Notable entries included Adani Wilmar in mid-cap and AXISCADES Technologies in small-cap. Mutual funds actively managed their portfolios, focusing on large, mid, and small-cap stocks.

Indian markets tumbled to seven-month lows on Monday, with Sensex and Nifty 50 down 1.08% and 1.14%, respectively, as weak earnings and global uncertainties rattled investor sentiment. FIIs selling and economic concerns added to the decline.

IDBI Bank reports 31% increase in Q3 net profit, driven by growth in net interest income and decline in provisions.

IDBI Bank Q3 earnings: Total income of the bank rose to Rs 8,564.92 crore in the third quarter of the current fiscal from Rs 7,514.27 crore in the year-ago period.

The Indian market closed lower on Friday, ending a three-day winning streak, primarily due to losses in Infosys and Axis Bank following their quarterly results. Weak sentiment in IT and banking stocks, coupled with concerns about earnings growth and liquidity, led to the decline. The BSE Sensex fell by 0.55% and Nifty 50 declined by 0.47%, as investors adopted a cautious stance.

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The government is likely to reduce its disinvestment and asset monetisation target to less than ₹30,000 crore this fiscal from the budgeted ₹50,000 crore. For the next fiscal, the target may be set at ₹45,000-50,000 crore. The sale of 30.48% stake in IDBI Bank could fetch ₹27,544 crore based on current share prices.

The Indian market extended its winning streak to a third session, driven by gains in financials and Reliance Industries. Positive sentiment followed softened U.S. inflation data, boosting hopes for a Federal Reserve rate cut. Wall Street also saw strong earnings reports, further enhancing market sentiment.

The Nifty IT index closed 0.49 per cent at 43188.85.

The Nifty Realty index closed 0.67 per cent at 927.05.

The Nifty Auto index closed 0.65 per cent at 22861.25.

The NSE Nifty index closed 98.6 points up at 23311.8

The Nifty Pharma index closed 0.29 per cent at 21909.75.

The Nifty Auto index was trading 0.55 per cent at 22837.05.

The Nifty IT index was trading 0.16 per cent at 43331.25.

In the Nifty 50 index, 31 stocks were trading in the green, while 19 stocks were trading in the red.

The NSE Nifty index was trading 97.6 points up at 23310.8

AMFI rejig: Stocks that have been excluded from the largecap list included Adani Total Gas, IDBI Bank Ltd, Shree Cement Ltd, Union Bank of India Ltd and BHEL.

REC plunged 5.02 per cent to Rs 490.45. SBI shares were trading 2.76 per cent lower at Rs 779.90.  Axis Bank cut morning losses and was trading 0.24 per cent higher at Rs 1,137.75. IndusInd Bank dropped 2.49 per cent to Rs 975.25.