IDBI Bank share price up as government considers stake sale

The Markets Today in a nutshell

• Domestic market managed to end with modest gains.
• Investors are staying on sidelines amid weak global cues and US Federal Reserve Chairman Jerome Powell’s signal on interest hikes. Further US economy have contracted amid muted demand conditions with the service sector witnessing a sharp decline. European markets also declined as a result of investors concern over oil crisis and uncertainty in growth outlook.

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News you could use

?SpiceJet share price up on fundraising plan
SpiceJet share price was up after the low-cost airline said it was looking to raise funds and ahead of the board meeting to consider Q4FY22 earnings.  The airline is looking at investments from external parties, including airlines.

?Ujjian Financial Services hits 52 week high
Trading volumes on the counter nearly doubled over their two-week average trading volumes. In the past six months, the market price of UFSL has zoomed 102 per cent. The company is in talks of merger with parent Ujjival Small Finance Bank.

?IDBI Bank share price up as government considers stake sale
The Central government is planning to sell nearly 51 per cent of state-owned IDBI Bank. Along with this LIC is also considering to sale its stake in order to dilute the manager control from the bank.

News from the IPO world?

• Dreamfolks Services IPO sees huge retail demand.
• Stitched Textiles scraps IPO plan: withdraws draft papers.
• Macleods Pharmaceuticals Limited & Harsha Engineers International Limited have filed for their IPOs.

Numbers? that matter