At 9:57 am, the stock was trading 4.73 per cent lower at Rs 32.3 apiece. In comparison, the benchmark S&P BSE Sensex was trading 236 points, or 0.61 per cent, lower at 38,586-mark. A total of 8.25 lakh shares changed hands on the NSE and BSE till the time of writing of this report.
Recently, IDBI Bank
decided to put up loans worth Rs 9,500 crore for sale. KKR-backed JBF Petrochemicals and JBF Industries, and Anil Ambani's Reliance Communications are some of the NPAs put on the block.
Earlier this month, the Union Cabinet approved capital infusion worth over Rs 9,000 crore into the bank. Of the Rs 9,300 crore, LIC would meet 51 per cent (Rs 4,743 crore), while the remaining 49 per cent, amounting to Rs 4,557 crore, is proposed from the government on a one-time basis.
For the first quarter ended June 2019, IDBI Bank
reported a net loss of Rs 3,801 crore as compared to Rs 2,410 crore in the same quarter of the last year. Gross non-performing assets (NPAs), as a percentage of total advances, were at 29.12 per cent in the quarter compared to 30.78 per cent in the year-ago June quarter. Post provisioning, the net NPA too came down to 8.02 per cent as against 18.76 per cent in the year-ago quarter.