Economic TimesLean R·
IDBI Bank shares crash 11% as Fairfax deal moves closer
Shares of IDBI Bank fell sharply on Tuesday, dropping as much as about 10%, as investors focused on the price at which Canada-based Fairfax Financial Holdings may acquire a controlling stake in the lender. The fall was much steeper than the broader market, with the Sensex and Nifty also trading lower amid rising crude oil prices and geopolitical concerns.The sharp decline comes as the long-running IDBI Bank privatisation process moves closer to a conclusion. Fairfax has emerged as the frontrunn…
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