ICRA upgrades ratings of IDBI Bank

ICRA has upgraded IDBI Bank's existing rating to 'ICRA A+' from 'ICRA A' for Infrastructure bonds, Flexi Bond, Senior & Lower Tier II bonds, Subordinate debt, 'ICRA A+' from 'ICRA A(Hyb)' for Basel III Tier II Bonds, 'ICRA A' from 'ICRA BBB+' for Basel II Upper Tier II bonds. Further, it has reaffirmed the short term rating on the Certificate of Deposit programme at 'ICRA A1+' and 'MAA-' for Fixed Deposit programme. At the same time, the outlook for the Bank has been kept unchanged as 'Stable'.

Shares of IDBI Bank Ltd was last trading in BSE at Rs. 41.25 as compared to the previous close of Rs. 38.8. The total number of shares traded during the day was 2876517 in over 6733 trades.

The stock hit an intraday high of Rs. 41.8 and intraday low of 38.7. The net turnover during the day was Rs. 115891797.

Source : Equity Bulls

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