IDBI Bank shares surged as much as 13% in morning trade on the BSE on Wednesday, 14 October, defying weak stock market sentiment. IDBI Bank share price opened at ₹84.32 against its previous close of ₹82.92 and jumped as much as 12.90% to an intraday high of ₹93.62, looking set to extend gains for the second consecutive session. On the other hand, equity benchmark Sensex declined by about 0.20% in morning trade.
Banking stocks have been rising after it announced on 12 October that its board will meet on 17 October to consider and approve its unaudited financial results for the quarter and half-year ended 30 September 2026.
Meanwhile, the stock is seeing strong buying interest, with a sharp surge in volume. On Wednesday, the stock's trading volume jumped more than 8-fold.
According to experts, IDBI Bank's Q2FY27 results are expected to be healthy. On 3 October, the bank said its total business during Q2FY27 rose by 18% year-on-year (YoY) to ₹6.3 lakh crore, while net advances rose by 18% YoY to ₹2.7 lakh crore. Total deposits for the quarter stood at ₹3.6 lakh crore, rising 17% YoY, while CASA deposits increased by 12% YoY to ₹1.6 lakh crore.
To recall, IDBI Bank's Q1FY27 net profit rose by 9% QoQ and 5% YoY to ₹2,115 crore. The bank saw net interest income (NII) grow 10% YoY to ₹3,486 crore.