Jan 23, 2007

IDBI .. VALUE UNLOCKING

IDBI Bank chairman and managing director, V P Shetty says the bank will sell its stake in premier institutions like

Stock Holding Corporation of India (SHCIL),
Small Industries Development Bank of India (SIDBI)
National Stock Exchange (NSE)
National Securities Depository (NSDL) “only when the market is optimal”.

The bank announced a net profit of Rs 126.79 crore in the third quarter of 2006-07 versus Rs 119.3 crore in the corresponding quarter of the previous year. Out of the total net profit, about Rs 19 crore was on account of amalgamation of the erstwhile United Western Bank in October 2006, officials said.

The Stock has good long term prospects keeping in mind the amount of holding it has in the premier institutes.

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