IDBI Bank top gainer

IDBI Bank continues to remain one of the most sought after stock on the bourses. Like Friday, today too, the stock is up in the green. The top gainer on the BSE in an otherwise falling market, the stock is at Rs.62.75, its current intra day high and up over 5%. Its 52-week high is at Rs.84.80.

Finance Minister, Arun Jaitley during a television interview said that the Govt was looking at options to giving more operational freedom to state-run banks. He did not name IDBI Bank directly as such but gave the example of Axis Bank, which is promoted by PSU companies but for all practical purpose sis considered to be a private sector bank due to freedom it has on hiring and workings.  He thus said that maybe IDBI could probably follow the same model when given an autonomy like Axis.

If this does work out, it would be great going for IDBI Bank to have a  more professional way of working and will be able to compete shoulder-to-shoulder with private sector banks.