Shares of IDBI Bank were trading above the moving averages of the past five, twenty, fifty, one hundred, and two hundred days. On June 30, 2022, the stock’s price fell to Rs 30.50, and on October 18, 2021, it reached Rs 65.25, its 52-week high. Together, the government and the state-sponsored Life Insurance Corp. of India own around 94% of IDBI Bank. Government representatives and LIC are reportedly debating how much of their holdings to sell, according to a Bloomberg article.
In the ceremony, MoUs over Rs 70,000 crore was signed by the Rajasthan government creating a total of 11846 direct employment opportunities. The investments are majorly envisaged in various districts across the state, including Bhilwara, Chittorgarh, Jhalawar, Ajmer, Jaipur, and Udaipur, etc.
Industry and Commerce Minister Shakuntla Rawat discussed the effects of these investments on Rajasthan in an exclusive interview with Business Today. “MoUs worth Rs 70,000 crore are signed today, and we are offering one of the best incentives and facilities to investors in Rajasthan. We will give all investors the subsidies and relaxation on stamp duty, and this will provide direct employment to over 11000 people in Rajasthan,” she said.
“Rajasthan has made enormous strides as far as mobilising investment and reforms for ease of doing business are concerned, we have the third largest road network in Rajasthan, the second largest rail network in Rajasthan, and seven air ports,” Additional Chief Secretary Veenu Gupta said while speaking at the event and addressing investors. Additionally, 39% of the Dedicated Freight Corridor passes through Rajasthan, making it a desirable location in terms of connectivity and logistics.