Stock Report

Moody's update on IDBI Bank ratings

Posted On : 2021-07-12 21:12:03( TIMEZONE : IST )

Moody's update on IDBI Bank ratings

Moody's has shared press release dated July 08, 2021 (received on July 12, 2021 by the Bank). As per the said press release, IDBI's local and foreign-currency bank deposit ratings are two notches above its Baseline Credit Assessment (BCA) and Adjusted BCA of b1. Further, the baseline credit assessment (BCA) of IDBI has been upgraded to b1 from b2. The outlook, where applicable, is Stable. The Moody's rating action is of standalone basis as IDBI had terminated rating contract / engagements with Moody's in December 2017. However, Moody's have published the press release dated July 08, 2021 without mentioning that the rating is unsolicited.

Shares of IDBI BANK LTD. was last trading in BSE at Rs.38.75 as compared to the previous close of Rs. 38.8. The total number of shares traded during the day was 3048975 in over 5675 trades.

The stock hit an intraday high of Rs. 40 and intraday low of 38.65. The net turnover during the day was Rs. 119160739.

Source : Equity Bulls