Worst is behind for IDBI Bank; all eyes on management activity: Deven Choksey

In a chat with ET Now, Deven Choksey, KR Choksey Investment Managers, talks about the recent reports of government selling its stake in IDBI Bank to International Finance Corp (IFC).

ET Now: Do you think that perhaps IDBI Bank is a story that investors can cash in on even at prevailing levels?
Deven Choksey: I guess the story would probably unfold eventually. Certainly infusion of new funds from IFC could mean a lot for this bank. At the same time, if the management is basically strengthened, then in such situation this bank could once again see a larger amount of growth opportunities.

At this point of time, I would certainly say that probably the worst is behind for the bank. I expect it to see better times ahead. But how much better it could and in what given time, that remains to be seen on the basis of how management plans their activity. But I would think that the worst certainly is behind for the bank.