From mint · Srushti Vaidya · · 1m
IDBI Bank's Wednesday Stock Surge
IDBI Bank shares spike 17% on Wednesdays as privatization deal nears.
In brief
IDBI Bank shares spike 17% on Wednesdays as privatization deal nears. IDBI Bank shares rose 17% on Wednesday, 17 June 2026, after government approved sale of 60.72% stake to Canada Inc. for ₹52,878 crore. Originally reported by mint.
IDBI Bank's Wednesday Pattern
Over the past year, IDBI Bank shares delivered strongest average returns on Wednesdays with 1.08% gain.
Wednesday's Stock Surge
The bank's shares surged 17% on Wednesday, 17 June 2026, after government approved sale of 60.72% stake to Canada Inc. for ₹52,878 crore.
Thursday's Decline
IDBI Bank shares fell 8.1% on Thursday, 15 October, after profit booking erased previous gains.
Privatization Deal Details
The government sold 60.72% stake in IDBI Bank to Canada Inc. for ₹52,878 crore, reducing government's holding to 15%.
Market Reaction
Investors bet on Wednesday cabinet meetings for privatization breakthrough, driving higher trading volume.
Trading Pattern
Wednesday's average trading volume was 22.28 million shares, 25% higher than overall average.
What it means
IDBI Bank shares rose 17% on Wednesday, 17 June 2026, after government approved sale of 60.72% stake to Canada Inc. for ₹52,878 crore.
