Shares of Yes Bank and IDBI Bank witnessed strong buying interest on Wednesday, surging up to 12% in intra-day trade on the BSE amid heavy trading volumes, even as broader market sentiment remained stable. The BSE Sensex was up 0.4% at 77,119 around 10:36 AM.
Yes Bank touched a 52-week high of ₹25.45, rising 7% during the session. The stock extended its winning streak to a fourth consecutive trading day, gaining around 14% over this period. Trading activity also surged significantly, with nearly 203 million equity shares changing hands across the NSE and BSE, indicating strong investor participation.
IDBI Bank outperformed, climbing 12% to ₹86.25 during intra-day trade. The stock also saw a sharp spike in volumes, with a more than threefold jump and a combined 69.7 million shares traded on both exchanges.
Market reports suggest that optimism around IDBI Bank is linked to renewed discussions on the government’s stalled privatisation plans. According to media reports, the Centre is exploring options to revive the disinvestment process, including reconsidering earlier bids that had failed to meet reserve price expectations.
However, IDBI Bank has clarified that the strategic disinvestment process is being handled by the Government of India and remains confidential. The bank also stated that the bidding process follows established disinvestment guidelines, and it has no role in negotiations, while continuing to disclose developments to stock exchanges as required.