The cancellation of the government’s plan to divest stake has eroded over ₹15,000 crore from the stock’s market value in a single day. But the valuation may still not be compelling.
Shares of IDBI Bank fell nearly 16% on March 16, the first trading day after the government cancelled its plan to divest its stake in the lender. The stock is down over 30% in the last month, but it may not be a bargain buy yet.
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