Daijiworld Media Network - New Delhi
New Delhi, Mar 18: The government is likely to restart the privatisation process of IDBI Bank from scratch after financial bids fell below the reserve price, forcing authorities to call off the exercise last week.
A key panel of ministers overseeing the disinvestment process is expected to review the developments soon and take a final decision on the way forward.
The setback has added to uncertainty surrounding the bank’s divestment, which analysts say continues to weigh on investor sentiment. Despite this, market experts remain cautiously optimistic about the stock’s outlook.
Kranthi Bathini of WealthMills Securities said the lack of clarity on disinvestment has been an overhang for some time, though existing investors may consider holding their positions.
Ravi Singh noted that the stock has seen a sharp decline but suggested investors could consider buying with a stop loss at Rs 68 and a near-term target of Rs 85.
Osho Krishan said the Rs 70–68 zone is likely to act as strong support, advising caution until the resistance band of Rs 82–92 is breached.
Similarly, Jigar S Patel stated that support is seen at Rs 73, while resistance lies at Rs 78. A sustained move above this level could push the stock towards Rs 80 in the near term.
Analysts expect the stock to trade within a narrow range amid ongoing uncertainty over the government’s disinvestment plans.