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Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.This theme is Bloggerized by Lasantha Bandara - Premiumbloggertemplates.com.
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IDBI Bank Share Price Today: IDBI Bank shares extended their gains on Wednesday, rising for the fifth straight session. The stock gained as much as 5.89% to hit an intraday high of Rs 93.39 per share.
The latest stock upmove takes IDBI Bank's gains to nearly 16% over five consecutive trading sessions, including Wednesday's session.
The latest gains come a day after IDBI Bank responded to a stock exchange query regarding a significant increase in trading volumes in its shares across exchanges.
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In its response to the BSE's August 25 query, IDBI Bank said it has been complying with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and has promptly informed stock exchanges of all events and information that could have a bearing on the bank's operations or performance, including price-sensitive information.
The lender said there is no undisclosed price-sensitive information or impending announcement that needs to be communicated to the exchanges at this point.
IDBI Bank also said the strategic disinvestment process is being handled by the Department of Investment and Public Asset Management (DIPAM) and that it has disclosed developments related to the process to the stock exchanges from time to time.
The bank added that it would continue to promptly disclose all material events, information and actions as required under the LODR regulations.
ALSO READ: IDBI Bank Share Price Jumps 10% In Trade: What's Driving The Rally?
The clarification comes amid heightened market interest in the government's strategic disinvestment of IDBI Bank.
Sources told NDTV Profit on Monday that the proposed IDBI Bank-Fairfax transaction could be close to completion, with the deal awaiting final clearances. According to the sources, the proposal could go before the Cabinet this week or next, while the file was with the Finance Ministry.
The developments have fuelled speculation around the potential transaction and have coincided with the sharp move in IDBI Bank shares.
Last month, IDBI Bank said it was “not in a position to either confirm or deny” reports that the government was close to accepting a revised offer from Canada's Fairfax Financial for its stake in the lender.
The bank said the proposed strategic disinvestment is a confidential process being undertaken by the Government of India and that it had not received any communication from the government regarding the finalisation of the transaction.
The clarification came after stock exchanges sought the bank's response to a Business Standard report that the government was close to accepting a revised offer from Fairfax Financial.
IDBI Bank had also clarified that it has no role in the bidding process or negotiations, as the government's strategic disinvestment is being conducted through a competitive bidding process.
The lender said such bidding processes do not entail negotiations and, accordingly, IDBI Bank has had no role in negotiations related to the transaction.
For investors, the focus remains on developments in the government's strategic disinvestment process and any formal announcement regarding the potential transaction.
ALSO READ: 'Can't Confirm Or Deny': IDBI Bank On Report Of Fairfax Offer To Buy Govt Stake
IIFL Finance and its core subsidiary, IIFL Home Finance Limited, have disclosed the receipt of significant income tax assessment orders. The demands, which stem from a block assessment spanning April 2018 to February 2025, saddle IIFL Home Finance with a Rs 963.39 crore tax bill.
Despite the staggering figure, both entities remain confident in their legal standing, asserting that the demands will not materially impact their financial stability or day-to-day operations.
The order against IIFL Home Finance was raised by the Assistant Commissioner of Income Tax, Central Circle - 4(4) in Mumbai, following search and seizure actions under Section 158BC(1)(c) of the Income Tax Act, 1961.
The Rs 963.39 crore demand (inclusive of cess and surcharge) is largely driven by a series of substantial additions and disallowances:
IIFL Home Finance has pushed back strongly against these claims. The company argues that income relating to ORC and interest strip assets had already been subjected to taxation, but the tax authorities failed to appropriately credit this during the assessment.
The company cited differences in interpretation regarding "general reserves" and the treatment of ESOP expenses as grounds for their upcoming appeal. While the subsidiary battles the recent block assessment, the parent company, IIFL Finance Limited, has secured a temporary breather on a separate issue.
The Income Tax Authority has granted a stay on the recovery of an outstanding Rs 475.56 crore tax demand that the company previously disclosed in May 2026. The stay is contingent on IIFL Finance paying 5% of the disputed amount—approximately Rs 23.78 crore—in installments by December 15, 2026.
The company has already demonstrated compliance, remitting its first installment of Rs 5 crore on August 13, 2026. This stay will remain in effect until December 31, 2026, or until the Commissioner of Income Tax (Appeals) reaches a decision on the matter, whichever comes first.
Both IIFL Finance and IIFL Home Finance are actively pursuing appellate and rectification remedies. By maintaining that they have strong, merit-based cases against the additions, the management seeks to reassure stakeholders that these tax disputes are interpretive hurdles rather than existential threats to their capital adequacy or lending capacity.