IDBI Bank is in the Banking sector with a Market Capitalization of worth Rs. 40,966 Cr, it is incorporated in the year 1964. It has reported the consolidated sales of Rs. 4916.13 crores at the end of the June’21 quarter. The company is also listed in the Bombay Stock Exchange (BSE) with the code 500116 and listed in the National Stock Exchange (NSE) with the code IDBI.
IDBI Bank or Industrial Development Bank of India was established in 1964 to provide credit and financial services to support the development of the Indian industry. Initially, it was a subsidiary of the Reserve Bank of India, and later its ownership was transferred to the Government of India. In 2004, IDBI saw itself getting converted from a mere financial institution to a scheduled commercial bank registered with the RBI. The Life Insurance Corporation of India (LIC) completed the acquisition of 51% of the company in January 2019, after which the RBI classified the IDBI bank as a private sector bank. IDBI Bank is mainly involved in providing banking services to its customers while holding a presence in other associated financial sector businesses such as Capital markets, Investment banking, and mutual funds industry. The promoters of the company currently have 94.71% of the stake in the company, whereas Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) hold 0.10% and 1.30% of the stake, and the balance 3.89%, is owned by others (retail investors).
In June 2021, quarterly net sales were Rs. 4,916.13 crores, similar to 4,896.43 crores for the April-June 2020 quarter. The quarterly net profit in June 2021 was Rs. 603.3 crores, up by 317.71% from Rs. 144.43 crores in June 2020. In June 2021, the operating profit was Rs. 5,873.57 crores, which is up by approximately 12.47% from Rs. 5,222.15 crores for the quarter ending in June 2020. From Rs. 0.14 in June 2020, the EPS of IDBI Bank has risen to Rs. 0.56 in June 2021 saw a sharp 300% increase in one year. IDBI Bank’s stock closed at Rs. 38.30 on 13th August, 2021 (NSE) and has returned 32.07% in the last six months and -4.25% in the last year.
IDBI Bank share price as on 27 Jul 2024 is Rs. 104.22. Over the past 6 months, the IDBI Bank share price has increased by 24.81% and in the last one year, it has increased by 83.49%. The 52-week low for IDBI Bank share price was Rs. 57.55 and 52-week high was Rs. 106.6.
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