On January 17, IDBI Bank’s board will review its third‑quarter results, which show a sharp jump in profit and a strong cash boost from selling its NSDL shares.
Key Financial Highlights
- Net profit: ₹3,627 cr for July‑September, almost double the ₹1,836 cr earned a year earlier.
- Operating profit: Up 17% YoY to ₹3,523 cr.
- Net interest income: Fell to ₹3,285 cr from ₹3,875 cr a year ago.
- Total business: Reached ₹5,33,730 cr, a 12% annual rise.
- Deposits: Crossed the ₹3 lakh cr mark.
NSDL Stake Sale Boost
The bank sold more than 2.22 crore equity shares, an 11.11% stake in National Securities Depository Ltd (NSDL), at about ₹799.87 per share. The transaction added roughly ₹1,699 cr to profit.
Asset Quality
- Gross NPA ratio: Improved to 2.65% from 3.68% a year ago.
- Net NPA ratio: Slightly up to 0.21% from 0.20%.
Share Price Movement
Today the stock opened at ₹103.15 on the BSE, hovered between ₹101 and ₹104.45, and ended flat.
Technical Outlook
Analysts note a strong breakout above ₹105 with volume eight times the 50‑week average, suggesting institutional buying. The price is resting on rising 10‑ and 20‑day EMAs, which could act as support.
- Potential upside target: around ₹140, with a further stretch to ₹170 if momentum holds.
- Risk‑reward remains favorable as long as the price stays above the breakout zone.
Remember, this is perspective, not a prediction. Do your own research before making any investment decisions.