IDBI Bank gains on getting govt’s nod to handle import, export transactions with Iran

IDBI Bank Ltd. | Bank - Private | BFSI | BSE: 500116 | NSE: IDBI

05 Mar 2019 Evaluate

IDBI Bank is currently trading at Rs. 44.55, up by 0.20 points or 0.45% from its previous closing of Rs. 44.35 on the BSE.

The scrip opened at Rs. 44.50 and has touched a high and low of Rs. 44.90 and Rs. 44.15 respectively. So far 177466 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 89.80 on 05-Mar-2018 and a 52 week low of Rs. 41.50 on 18-Feb-2019.

Last one week high and low of the scrip stood at Rs. 44.90 and Rs. 41.50 respectively. The current market cap of the company is Rs. 34426.51 crore.

The promoters holding in the company stood at 52.02%, while Institutions and Non-Institutions held 45.40% and 2.58% respectively.

IDBI Bank has received government nod to handle import and export transactions with Iran, a move which would help in promoting two-way trade amid US sanctions on the Persian Gulf nation. The Bank has been identified to route the payments.

US President Donald Trump had in May last year withdrawn from the 2015 nuclear accord with Iran, re-imposing economic sanctions against the Persian Gulf nation. Some sanctions took effect from August 6, 2018 while those affecting the oil and banking sectors started from November 4, 2018. India used to pay its third largest oil supplier in euros using European banking channels. But this channel is also blocked from November last year.

Bilateral trade between India and Iran increased to $13.8 billion in 2017-18 from $12.9 billion in the previous fiscal. However, India's exports were only worth $2.5 billion to that country.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.

IDBI Bank Share Price

83.98 -0.45 (-0.53%)

03-Jul-2026 14:45 View Price Chart

Peers

Company Name	CMP
HDFC Bank	802.10
ICICI Bank	1412.10
Axis Bank	1342.15
Kotak Mahindra Bank	395.60
Indusind Bank	972.35
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