Kotak Mahindra Bank’s CEO has raised concerns about IDBI Bank’s valuation as the privatization process drags on. IDBI, backed by LIC, reported quarterly earnings that missed market estimates, fueling uncertainty around both the timing and the eventual pricing of the divestment. Investors now watch whether the earnings gap affects negotiations and potential offer terms.
The government is reviewing its IDBI Bank disinvestment plan after weak investor interest and market volatility disrupted the proposed stake sale. A core group of secretaries is now considering revised valuations and timelines. Finance Minister Nirmala Sitharaman has confirmed the strategic sale will move ahead, with officials aiming to conclude the transaction soon.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Finance Minister Nirmala Sitharaman said the government will shield vulnerable groups, with a focus on farmers struggling with rising costs. She urged Indian businesses to invest and expand capacity while warning that AI is both promising and disruptive. The minister also indicated discussions are underway on advanced AI models and cybersecurity, and confirmed the strategic sale of IDBI Bank will proceed.
Finance Minister Nirmala Sitharaman promised support for farmers hit by rising input costs, while urging India Inc to expand capacity and share what it needs to invest more. She acknowledged concerns around capital outflows and reiterated India’s readiness for reforms. She also flagged ongoing engagement with the US and Anthropic on AI model risks, and said the strategic sale of IDBI Bank will proceed.
Indian markets extended their winning streak on the Nifty expiry day, closing higher for a sixth straight session. The Nifty ended near 25,083 and the Sensex around 82,000. IDBI Bank led gains with a sharp jump, while several notable stocks including Swiggy, Reliance firms and others saw mixed movement, with some names slipping.
Indian markets rebounded on Monday, with the Nifty jumping 257 points. HDFC Bank, Bajel Projects, and Tejas Networks led the gains, while IDBI Bank, Bandhan, Fino Payments Bank, and Adani Total Gas saw sharp declines. Corporate news and shifting investor sentiment appear to have driven the dramatic stock moves.
Never miss a story
Set alerts for the topics and sources you care about. Download Beige for free.
Indian markets finished higher on Tuesday, lifted by strength in banks, auto and metals. Lloyds Metals jumped on expansion plans, but Ola Electric and IDBI Bank fell after brokerage cuts and divestment concerns. IT stocks remained weak as investors refreshed fears of AI-led disruption, keeping sentiment cautious even with the overall index up.
Swipe through stories, personalise your feed, and save articles for later — all on the app.